Interest claim ag int inc earned on capital ag colateral pp

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 February 2014 i have taken the loan on ppf . the finance which is received from on account of collateral of ppf is financed in my partnership firm as a cspital introduced in firm business .
Now i calculating the estimate my annual income . i received income from int on capital @12% .This income is taxable in my personal ITR.
my question is that can i claim deduction in my ITR file forhthe int paid on loan on the basis of the amt credit in my PPF account .

pl guide me and seeking clarification with section supporting .

Nikhil Kaushik

Nikhil Kaushik (Expert)
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01 March 2014 yes you can claim deduction for the interest paid on loan against PPF. It is covered under normal provisions of income from Business/Profession.

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