Interest paid on unsecured loan
This query is : Resolved
16 September 2023
One of my client, a salary-holder, took loan of Rs.10.00 lac from one of his relative @ 5% interest and deposited the same in Bank as FDR (earning 6% interest). Whether my client can set off the interest paid on loan with Interest received from FDR ?
16 September 2023
not allowed ............
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