This query asks whether it's possible to claim a deduction for 20% interest expenditure on dividend income exceeding £1.5 lakh when filing ITR-1 for the Assessment Year 2021-22. The individual's income sources are limited to salary, bank interest, and dividends. The user is seeking clarification on this specific tax deduction scenario.
31 July 2021
Can we claim deduction of interest expenditure ( @20%) on dividend received above 1.5 lac through ITR-1 for the A.Y. 2021-22 of the Person having income from salary, bank interest and dividend only? Kindly reply. Regards, Limpa Chakraborty