Interest Income
This query is : Resolved
20 July 2010
Hello,
I want to know whether professional fees i.e fees paid for return filing charges can be set off against interest income?
Please i am in urgent.
I want to know whether professional fees i.e fees paid for return filing charges can be set off against interest income?
Please i am in urgent.
20 July 2010
No because professional charges paid for return filing is not spent to earn the interest income.
Message likes :
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21 July 2010
Then Sir How it can be adjust?
21 July 2010
only the exp which are incurred to earn income can be set off against the income.... prof fees is not paid for earning the income and it is wholly personal expenditure since it is paid for failing the personal return
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