24 February 2010
if any interest is received by individual in his bank account then it is puted in income from other sources. what can any chrged by his banker then it can be deducted in income from other sources?
24 February 2010
any expenditure to earn the income can be deducted out of income earned. Bank charges are not paid for earning the bank interest. they are paid for services availed from bank. Hence no deduction can be claimed for bank charges if they are not spent for earning income.
CAclubindia
