Interest Income

This query is : Resolved

Hardik Patel (Querist)
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20 July 2010 Hello,

I want to know whether professional fees i.e fees paid for return filing charges can be set off against interest income?

Please i am in urgent.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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20 July 2010 No because professional charges paid for return filing is not spent to earn the interest income.

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srinath

srinath (Expert)
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20 July 2010 agreed with sir

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Hardik Patel

Hardik Patel (Querist)
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21 July 2010 Then Sir How it can be adjust?

srinath

srinath (Expert)
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21 July 2010 only the exp which are incurred to earn income can be set off against the income.... prof fees is not paid for earning the income and it is wholly personal expenditure since it is paid for failing the personal return