14 February 2014
i have taken housing loan on 10%. i have income of FD interest. i am getting 12% return or interest. can i take deduction of FD interest against housing loan interest . i am salaried person.
14 February 2014
You can claim deduction of interest only if the amount on which you are paying interest has been utilised for making FD. If the amount has been utilised for purchase of house, you can't claim interest paid on that amount from interest earned by you from FD.
CAclubindia
