Which of the following expenses is inadmissible while computing income from other sources?
A. Interest paid on amounts borrowed to meet tax liabilities.
B. Collection charges paid to the banker or any other person to collect interest/dividend.
C. Interest on loan taken to invest in securities.
D. Depreciation on let-out machinery and plant.
Answer:A
Which of the following expenses is inadmissible while computing income from other sources?
A. Interest paid on amounts borrowed to meet tax liabilities. B. Collection charges paid to the banker or any other person to collect interest/dividend. C. Interest on loan taken to invest in securities. D. Depreciation on let-out machinery and plant.