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interest set off

This query is : Resolved 

27 August 2010 if loan is taken by me to run business & some amount of loan deposit in fd then interest on loan paid by me & interest on fd received by me. is there any set off interest is allowed in income tax?

27 August 2010 If the FD is made for business purpose like giving bank guarantee or their like then no problem for claim of expenses of interest.



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