can personal loan be taken for making FDs ?
This query is : Open
CA Vijeta Verma
(Querist)
30 April 2011
can personal loan be taken for making FDs ?
can we avail tax benefit on this for affirmative answer?
can we avail tax benefit on this for affirmative answer?
CA SAURABH GARG
(Expert)
01 May 2011
There may multipal ans. and qus. of this query?
1) If you are getting more interest on FD,s and paying less interest on personal loan then already you are getting unbelievable earnings and get benefit of interest expenses under the head of other income.(If your first qus. is affirmative).
2) If vice verse of above then you will get tax benefit of loss under the head income/loss from other sources due to paying hire interest for personal loan and earning less interest from FD's.
1) If you are getting more interest on FD,s and paying less interest on personal loan then already you are getting unbelievable earnings and get benefit of interest expenses under the head of other income.(If your first qus. is affirmative).
2) If vice verse of above then you will get tax benefit of loss under the head income/loss from other sources due to paying hire interest for personal loan and earning less interest from FD's.
CA SAURABH GARG
(Expert)
01 May 2011
Please tell me what was your aim to ask this type of questions ?
Do you really getting this type of deal?
if yes unbelievalble ?
Do you really getting this type of deal?
if yes unbelievalble ?
CA Vijeta Verma
(Querist)
02 May 2011
well nothing like this is happening practically..a que just came to mind & i put that over here
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