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interest income

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26 October 2010 whether any expenditure incurd in respect of earning an interest income is allowable as exps as per sec 57
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
26 October 2010 Any expenditure means what? is any legal charges or else. pls provide the details, in the normal condition expenditure will not be allowed.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
26 October 2010 U have to prove they are in relation to earning interest income.
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CA Ajay Wadhwani

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CA Ajay Wadhwani (Querist)
27 October 2010 actually sir this exps is incurd for collecting that interest income and some where i have read that 5% of interest income is allowable as exps. is it ture?

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