Urgent query

CA. Animesh Kumar Jain (ACA DISA (ICAI) B.Com)   (226 Points)

02 February 2012  

 

FRIENDS THERE IS AN ASSESSEE WHICH HAS INCOME FROM INTEREST ON UNSECURED LOANS AND THERE ALSO EXPENSES OF INTEREST ON UNSECURED LOANS TAKEN,,,,,

WILL INCOME OF INTEREST COMPANSATE WITH INTEREST EXPENSES.....

ALSO THE ASSESSEE IS A PARTNER IN A FIRM FROM WHICH HE RECIEVED REMUNERATION, SHARE IN PROFIT AND INTEREST ON CAPITAL.....

PLEASE SHOW HOW INCOME BE TREATED.....?