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What else can I help you with?
Can you claim school loans on income tax?
Well, loans if anything would be income (but it isn't). You mean the interest on them...NO. Interest on personal use loans is not deductible.
Why do banks choose to sell loans instead of keeping them on their books?
Banks choose to sell loans instead of keeping them on their books to reduce risk, free up capital for new lending, and generate income through fees and interest.
What are the sources of income of banks?
Interest on loans and borrowings
What is the largest source of income for banks?
the interest they receive from loans
Most of the bank income comes from charged on loans?
interest
What is the largest source income for banks?
the interest they receive from loans
What is the source of income for financial institutions?
interest from loans made
What is the major source of income for financial institutions?
interest from loans made
You loaned your company money but have not claimed it on personal income taxes how many years can you go back to claim the loans?
Claim the loans? You mean claim the interest on the loans, right. Loans are neither a deduction or income.
How are loans taxed?
Loans are not taxed because they are not considered income. However, the interest paid on loans may be tax-deductible in certain situations.
Interest rates on credit cards and other loans are .?
a category of discretionary income
How does companies offering gold loans earn profit?
Companies offering gold loans charge a certain percentage as interest on a monthly basis. The mortgage for Gold Loans is Gold. Earning from interest income will lead to profitability.
