https://www.taxtmi.com/forum/issue?id=106376 Where an individual borrows from a bank and re-lends those funds to earn interest income, re-lending may attract a regulatory prohibition under banking law, but alternatively the transactions can be characterised as a business activity, permitting the interest paid on the borrowed funds to be claimed as an expense against the interest income under the deductibility rules of section 57. en-us Wed, 01 Jan 2014 17:14:33 +0530 Thu, 23 Jan 2025 15:57:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=106376 Where an individual borrows from a bank and re-lends those funds to earn interest income, re-lending may attract a regulatory prohibition under banking law, but alternatively the transactions can be characterised as a business activity, permitting the interest paid on the borrowed funds to be claimed as an expense against the interest income under the deductibility rules of section 57. Discussion-Forum Income Tax Wed, 01 Jan 2014 17:14:33 +0530 https://www.taxtmi.com/forum/issue?id=106376