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Income from other sources

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(Querist)
07 March 2016 In case interest received is more than Interest paid, can negative Income be claimed in ITR ???
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Mridul Kogta

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Mridul Kogta (Querist)
07 March 2016 The assessee has borrowed fund on Interest basis & invested in Equity Capital of a private Limited Company, whether he can claim interest expenditure in his ITR in IOS head as Negative Income ???
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Ankur Singhal

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Ankur Singhal (Expert)
07 March 2016 Dear
Negative income means loss.
And you cannot claim loss under the head other sources.
But if you want to claim loss you may show the income under head pgbp if it satisfies the conditions of business.
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