Deduction on interest paid on loan taken from lic
This query is : Resolved
02 August 2010
If i took loan on my old lic and reinvested in other new one lic policy. can i get deduction from other sources income for interst paid on that loan.
Neeraj gupta
Neerajgupta_111@yahoo.com
Neeraj gupta
Neerajgupta_111@yahoo.com
02 August 2010
No as this could be termed as Expenditure incurred in relation to income not includible in total income and be disallowed u/s 14A.
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