I took overdraft loan for land purchase,but deal was not settled. Can I invest some of loan amount in NCD (monthly interest scheme). While filing ITR, can I show net interest income as NCD interest received minus interest paid to bank for loan?
Sangeeta Sahoo (1 Points)
15 August 2024
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170974 Points)
Replied 15 August 2024
Yes, file ITR 3 and declare the income under business head.
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