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Interest Income

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(Querist)
01 July 2009 I have FD with Bank and recived interest 150000 I have taken loan with this Fd and paid Interest 175000.

and OD amount which i take from bank in this i recived Interest 220000.

my question is that.
Interest on FD - 150000

Intrest Recived On
loan(As invested) - 220000
Less Interest Paid on Fd- 175000
Interest Income On Loan 45000

Interest from other sources 195000

Am i Right or Not Please Reply . I have not adjusted interest on loan amount from fixed deposit interest.
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CA.Hanumantha Reddy

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CA.Hanumantha Reddy (Expert)
01 July 2009 What about Rs. 45000?. You have to consider the amounta also.
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Radhika

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Radhika (Querist)
01 July 2009 195000= 150000 ON FD & 45000 (220000-175000)
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CA.Hanumantha Reddy

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CA.Hanumantha Reddy (Expert)
02 July 2009 Then, you are right. The computation is correct

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