Int income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 April 2018 Dear sir,
I am salaried person and taken loan from my relative 200000/- from online transfer, Now I have to paid 30000 interest to my relative which is also through Online money transfer and my relative have less income so he can pay tax on this income and take refund the same by ITR.

So please Suggest how can I show in my ITR to reduce my Taxable income.please advice

KG

Expert : Anonymous

Expert : Anonymous (Expert)

13 April 2018 You can't reduce your income as No deduction for same is available to you.

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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13 April 2018 You cannot claim the interest paid as you earn salary income. There is no deduction available

Querist : Anonymous

Querist : Anonymous (Querist)

14 April 2018 I have some earning from in "income from other sources " such as interest etc

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