Deduction of Interest paid to bank for borrowed capital against Godown Rent Income ?

KANJI BHANUSHALI (1 Points)

21 February 2022  

Hii All,

One of our client has purchased Godown Premises by taking loan from Bank.

Suppose, he earns Godown Rent of Rs.2.40 Lakhs during the FY 2022-23 and pays interest to bank at the tune of Rs. 3 Lakhs.

Now my question is what amount can be set off against Interest Paid to Bank for Loan Taken from Bank ?

Thanks in advance