Int claim against inc rec from shares of co-op bank
This query is : Resolved
06 September 2014
In last year I have purchased co-op Bank shares of Rs. 5Lacs This is financed with borrowed fund taken from fried @ 9%p.a. This year I have received Dividend worth Rs. 75000/- Can against this income I can claimed interest payable of Rs. 45000?
06 September 2014
You can claim Interest Expenditure on Borrowed Funds Utilised for Investing in Investments generating Taxable / Income falling under Taxable Category.
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