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Income Tax - Highlights / Catch Notes

Home Highlights December 2017 Year 2017 This

Interest received from the bank was income in assessee's hands - ...


Interest Earned from Bank Deposits is Taxable Income; Loan Interest Payments Don't Offset This Income.

December 1, 2017

Case Laws     Income Tax     HC

Interest received from the bank was income in assessee's hands - amount paid by the assessee as interest on the loan that he took from the bank did not reduce his income by way of interest on the fixed deposit by him in the bank - HC

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