Hi,
I am filing tax return as individual. I have interest income and at the same time I have paid interest, as I borrowed money that is used to invest.
Can I claim the interest paid by me (on borrowed money) as expense in ITR2 - Schedule OS - under the head Expenses (Line tagged as fi in the ITR2 form)
Thank you
Satyanarayana
It means you have IFOS loss ,if yes then no problem.
go on
| Originally posted by : ativ patel | ||
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It means you have IFOS loss ,if yes then no problem. go on |
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Thank you for you reply. I do not have any IFOS loss. I have interest income that is more than the interest I paid. I have TDS details for the interest income.
So is it OK even in this case to claim the interest paid by me as expense?
Thank you.
CAclubindia
