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co operative housing society

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 November 2010 whether expenses such as light bill, maintenance exp, telephone bill, municipal bill, etc, incurred by CHS is deductible from the FD interest earned from any nationalized bank ?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
20 November 2010 The said expenses are not incurred for earning the interest income. Hence deduction cannot be claimed under section 57 (iii) of the IT Act,1961.
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