01 May 2011
There may multipal ans. and qus. of this query?
1) If you are getting more interest on FD,s and paying less interest on personal loan then already you are getting unbelievable earnings and get benefit of interest expenses under the head of other income.(If your first qus. is affirmative).
2) If vice verse of above then you will get tax benefit of loss under the head income/loss from other sources due to paying hire interest for personal loan and earning less interest from FD's.
CAclubindia
