Interest paid to bank- deductions - income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 July 2018
I have taken overdraft from bank and on monthly basis i am charged interest on it. I have also taken loan on my provident fund for which every month i am charged an installment or interest.
Can i use the above amount for deductions while filing income tax return?
I am assistant manager in Oriental Bank of Commerce.
Can i use the above amount for deductions while filing income tax return?
I am assistant manager in Oriental Bank of Commerce.
CA R SEETHARAMAN
(Expert)
26 July 2018
What purpose the loan is taken.
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