Interest Netting Permitted: Deduct Paid Interest from Earned, Only Surplus Considered Taxable Income for Taxpayers.

Interest Netting Permitted: Deduct Paid Interest from Earned, Only Surplus Considered Taxable Income for Taxpayers. https://www.taxtmi.com/highlights?id=41196 Netting off of interest is permissible. Interest earned from the bank and interest paid to the bank has to be netted off and only surplus interest becomes income of the assessee. en-us Mon, 03 Sep 2018 14:08:23 +0530 Mon, 03 Sep 2018 14:08:23 +0530 TaxTMI RSS Generator Interest Netting Permitted: Deduct Paid Interest from Earned, Only Surplus Considered Taxable Income for Taxpayers. https://www.taxtmi.com/highlights?id=41196 Netting off of interest is permissible. Interest earned from the bank and interest paid to the bank has to be netted off and only surplus interest becomes income of the assessee. Highlights Income Tax Mon, 03 Sep 2018 14:08:23 +0530 https://www.taxtmi.com/highlights?id=41196