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Corporate tax on interest

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(Querist)
20 September 2017 Can interest expense be claimed as deduction against interest income?

If the amount so borrowed by the Pvt. Ltd. company is invested in Debt MF (a part/partially)?

Thanks for the Help!!!
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Amol S Joglekar

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Amol S Joglekar (Expert)
20 September 2017 interest paid in order to earn interest is deductible.
But in your case, it seems, you have invested in debt MF by borrowing money. I dont think this interest is deductible
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
21 September 2017 Interest expense can't be deducted. Inference - [2001] 248 ITR 449 (SC).
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