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