Overdraft Limit interest rebate

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26 Points Posted on 02 May 2020
Can I get rebate on interest which paid on overdraft limit (I have taken a OD limit against house property)
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On 02 May 2020 at 13:08 Report
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Quick Summary
This discussion clarifies whether interest paid on an overdraft limit secured against a house property is eligible for a rebate. The general consensus is no, unless the overdraft is used for business purposes. If used for business, it can be claimed as an expense, otherwise, no benefit is available.

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"Do the Right Thing...!!!"
128157 Points Posted on 02 May 2020
No... Rebate not available.

How is possible the rebate...?
Which condition You ask this question...?
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On 02 May 2020 at 14:42
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Practice
3235 Points Posted on 02 May 2020
If you are using OD Limit for business purpose then you can claim it as an expenses else you cannot take any benefit..
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On 02 May 2020 at 14:45

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