https://www.taxtmi.com/forum/issue?id=105861 Interest paid on an OD account used both for lending and for personal expenses cannot be netted against interest earned. The deductible interest must exclude the portion attributable to personal expenditure; therefore a computation is required to apportion total OD interest between personal use (disallowable) and income generating use (potentially deductible). en-us Sun, 07 Jul 2013 20:36:29 +0530 Thu, 23 Jan 2025 15:57:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=105861 Interest paid on an OD account used both for lending and for personal expenses cannot be netted against interest earned. The deductible interest must exclude the portion attributable to personal expenditure; therefore a computation is required to apportion total OD interest between personal use (disallowable) and income generating use (potentially deductible). Discussion-Forum Income Tax Sun, 07 Jul 2013 20:36:29 +0530 https://www.taxtmi.com/forum/issue?id=105861