Interest Deduction Mean?
A deduction for taxpayers who pay certain types of interest. Interest deductions reduce the amount of income subject to tax. The two main types of interest deductions are for home mortgage and home equity loan interest, and margin account interest. These deductions are allowed primarily to encourage home ownership and investment activity. Other interest deductions can come from the interest paid on student loans.
Interest Deduction Mean?
MS SAMEER (CMA*CA*CMDM*ast FUND MANAGER*LEGAL ADVISOR) (14938 Points)
07 July 2010