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bank charge

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(Querist)
24 February 2010 if any interest is received by individual in his bank account then it is puted in income from other sources. what can any chrged by his banker then it can be deducted in income from other sources?
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CA Vijay Kumar Gupta

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CA Vijay Kumar Gupta (Expert)
24 February 2010 any expenditure to earn the income can be deducted out of income earned. Bank charges are not paid for earning the bank interest. they are paid for services availed from bank. Hence no deduction can be claimed for bank charges if they are not spent for earning income.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
24 February 2010 Agree .no deduction on account of bank charges in the bank interest income
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adarsh kumar

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adarsh kumar (Querist)
14 March 2010 thanku sir, for clear my conceptabout this
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