Interest Deduction Not Allowed Unless Borrowed Funds Were Used for Interest-Earning Deposits, Per Section 57. https://www.taxtmi.com/highlights?id=154 Netting of interest-unless funds are borrowed for making deposit to earn interest, such interest paid can't be allowed as deduction from interest income u/s 57 en-us Sat, 14 May 2011 14:08:02 +0530 Sat, 14 May 2011 14:08:02 +0530 TaxTMI RSS Generator Interest Deduction Not Allowed Unless Borrowed Funds Were Used for Interest-Earning Deposits, Per Section 57. https://www.taxtmi.com/highlights?id=154 Netting of interest-unless funds are borrowed for making deposit to earn interest, such interest paid can't be allowed as deduction from interest income u/s 57 Highlights Income Tax Sat, 14 May 2011 14:08:02 +0530 https://www.taxtmi.com/highlights?id=154