Interest Income Deductions: Only Non-Capital Expenditures Exclusively for Earning Income Allowed u/s 57(iii) of Income Tax Act.

Interest Income Deductions: Only Non-Capital Expenditures Exclusively for Earning Income Allowed u/s 57(iii) of Income Tax Act. https://www.taxtmi.com/highlights?id=41005 In case of interest income earned by an assessee, only the expenditure (not being in the nature of a capital expenditure) laid out or expended wholly and exclusively for the purpose of making or earning such income is to be allowed as a deduction under Sec. 57(iii) en-us Thu, 23 Aug 2018 11:57:09 +0530 Thu, 23 Aug 2018 11:57:09 +0530 TaxTMI RSS Generator Interest Income Deductions: Only Non-Capital Expenditures Exclusively for Earning Income Allowed u/s 57(iii) of Income Tax Act. https://www.taxtmi.com/highlights?id=41005 In case of interest income earned by an assessee, only the expenditure (not being in the nature of a capital expenditure) laid out or expended wholly and exclusively for the purpose of making or earning such income is to be allowed as a deduction under Sec. 57(iii) Highlights Income Tax Thu, 23 Aug 2018 11:57:09 +0530 https://www.taxtmi.com/highlights?id=41005