Deduction of interest under section 57

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..... Person borowed money form bank and give its futher to company to earned interest income TOtal interest Received 50.00 lacs Total Interest paid to Bank 52.00 lacs My question is whether he is eligi .....

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..... ble for deduction of Rs 50 lacs or 52 lacs under section 57 - Reply By CA GOPALJI AGRAWAL - The Reply = First, it is illegal to give loan out of borrowed money as per RBI ACT. without prejudice .....

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..... to above, it can be treated as business and claim the intt paid as exp. - Deduction of interest under section 57 - Query Started By: - VINOD JINDAL Dated:- 1-1-2014 Income Tax - Got 1 Reply - Income .....

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..... Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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