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Income from other sources income tax

Others 321 views 2 replies
I have taken a loan against plot of 40 lac and lend the amount further to X at 15 percent interest . I am claiming interest charges of loan against income from lending the amount under the head of Income from other sources in ITR . In next year i had paid the EMI (P+I)of the loan by taking another loan from relative now please tell me what should i take the deduction under interest amount paid in the head of income from other sources. ????
Replies (2)
you should take deduction u/s 80c of wich you have paid interest and for earn interest you must show income from other source of income...
Deduction under 80C ????? How I have not taken loan to make the house. Loan is taken against the plot (security of the loan) and used the same to lend to X ..


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