{"id":19578,"date":"2021-06-23T16:14:15","date_gmt":"2021-06-23T10:44:15","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=19578"},"modified":"2021-06-29T20:07:52","modified_gmt":"2021-06-29T14:37:52","slug":"deduction-of-interest-paid-from-interest-income-u-s-57-of-the-it-act","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/deduction-of-interest-paid-from-interest-income-u-s-57-of-the-it-act\/","title":{"rendered":"Deduction of Interest paid from interest Income U\/s 57 of the IT Act."},"content":{"rendered":"<p>Sir,<br \/>\nAn individual has taken a loan from bank of Rs2cr and has given as a loan  to the firm as a partner.Would like to know whether the interest paid to the bank would be allowed as a deduction from interest income earned from the firm u\/s 57(iii) as there being a direct nexus between taking of loan and lending the said amount to the firm.               <\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[29],"qa_category":[23],"qa_tag":[125,233,278],"class_list":["post-19578","qa","type-qa","status-publish","hentry","qa_expert-advocate-rahul-hakani","qa_category-income-tax","qa_tag-income-from-other-sources","qa_tag-interest-deduction","qa_tag-interest-partnership-firm"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/19578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=19578"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=19578"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=19578"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=19578"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=19578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}