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Expenses or deduction to be claimed by a partner of 3 firms

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GITA RAYATATHA

GITA RAYATATHA (Querist)
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27 December 2013 I have income as remuneration and interest from three partnership firms and want to know that what deduction or expenses can i claim in itr 3?
i had paid huge amount of interest on unsecured loans can i claim it as expenses?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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27 December 2013 Any expenses incurred in relation to earning such income can be claimed as an expenses. So if interest on unsecured loans has been paid to make investment in partnership firms then the same can be claimed as an expense from interest from partnership firms.

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