Interest on Fixed Deposit with bank
This query is : Resolved
MAKARAND DAMLE
(Querist)
11 July 2023
Assessee having only Salary and other sources Income
He is having Interest on F D and also taken loan against F D.
Whether Interest paid on loan can be deducted against interest earned on F D
Can interest paid be more than Interest earned and the difference can be deducted against other income ?
He is having Interest on F D and also taken loan against F D.
Whether Interest paid on loan can be deducted against interest earned on F D
Can interest paid be more than Interest earned and the difference can be deducted against other income ?
CA R SEETHARAMAN
(Expert)
11 July 2023
In such a case deduction can't be claimed.
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