Interest income
This query is : Resolved
09 March 2016
I have interest income of 72000 with salary income 370000. on behalf of interest income I have incurred 10000/- rs expenditure for brokerage, telephone, petrol etc. so my problem is may
I claim this expenditure in income tax. and if I am filing ITR1 with respect to this income, is it correct or not. pls help
10 March 2016
1. If the expenditure 10,000 is for earning 72,000 it can be deducted.
2. If interest comes under 'business', ITR-1 is not the correct choice.
2. If interest comes under 'business', ITR-1 is not the correct choice.
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