Other sources

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
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.

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.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 July 2013 thank you:-)

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


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro

Follow us
add to google news


Answer Query



Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details