U/s. 57 Interest paid to others
This query is : Resolved
11 January 2011
assessee has invested in FDR in Nationalized bank. For the investment in FDR The assessee has taken a part amount of loan from family members.The interest paid to the family members will be allowed as the deduction U/s. 57
Guest
Guest
(Expert)
11 January 2011
Yes, interest on borrowed amount can be claimed as expenditure
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