How to claim int. exp.
This query is : Resolved
22 July 2017
An indivisual having interest income (on unsecured loan, FD and saving bank account) under Other Source Head.
He also have some interest exp. on unsecured loan
Whether he can claim the same exp. and if yes then under which head and how ??
He also have some interest exp. on unsecured loan
Whether he can claim the same exp. and if yes then under which head and how ??
22 July 2017
Interest on unsecured loan is not allowable as deduction against your income.
22 July 2017
Interest paid not allowed as an expense against interest earned.
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