Hi,
I have a question that, If I take loan on Interest from any of my family member and the same amount will be invested in Tax Saver FD u/s 80C. Now I will earn some interest on FD and the same will be included in my Taxable Income as income from other sources also on the other side I am paying interest on Loan taken to do the same Investment.
So, whether is there any deduction available for Interest payment from my Interest earning u/s 57 of the Income tax Act?
CAclubindia
