CA Srikanth Yadav
(Chartered Accountant)
(3162 Points)
Replied 22 September 2015
No. Under the head, "income from other sources", you can claim only those expenditures which you have incurred for the purpose of earning the income chargeable under the head "Income from other sources". So in your case, the answer is NO
riddhi
(student)
(85 Points)
Replied 22 September 2015
CA Srikanth Yadav
(Chartered Accountant)
(3162 Points)
Replied 23 September 2015
Depreciation is allowed usually only on Buildings, Machinery, Plant and Furniture when you let them on rent.
In your case, it depends on how that interest income is earned. Is it a Bank interest or you have lent money to some indivudals and received interest on it?
riddhi
(student)
(85 Points)
Replied 23 September 2015
CAclubindia
