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Interest

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(Querist)
30 July 2014 we have taken a personal loan, and invested in FD for certain months. Interest earned Rs. 47500, and interest paid Rs. approx 80,000.

I am a salaried employee. Pls. suggest can we adjust Interest paid with Interest earned?
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Kaustuv

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Kaustuv (Expert)
30 July 2014 No it is not allowed.
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Aanand Jha

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Aanand Jha (Querist)
30 July 2014 Thanks, Can u pls. provide some references regarding this
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