Income tax on fd if a od on it
Querist : Anonymous
I have an FD and need to include the interest an income while filing the return. I have taken an OD for on this FD for some months during the FY 12-13. So Can I reduce the interest which I paid for OD from the interest gained on FD and show only the difference as income while filing IT return? Requesting the expert suggestions. Thanks
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Querist : Anonymous
Citation :- CIT vs. Dr. V. P. Gopinathan [248 ITR 449] (SC).
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