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Querist : Anonymous

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Querist : Anonymous (Querist)
26 July 2013 I have taken a loan against my FD as a security.Now can i claim the interst on loan against the interst on FD which i recieve on my FD.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
26 July 2013 no you cannot,as per sec 57 only if exp directly incurred for earning any income chg to tax under other souces can be deducted.

loan was not taken for earning fd int hence int on loan not deductible against fd int.
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Querist : Anonymous

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Querist : Anonymous (Querist)
26 July 2013 thank you:-)
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
26 July 2013 If you have invested the loan amount somewhere and earning income which is taxable then you can claim interest paid on such loan while calculating net income.

otherwise you can not claim
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