Expenses allowed as deduction from Income from other sources

Following expenses can be claimed as deduction from Income from other sources:

1. In case of Interest on securities, any reasonable sum paid by way of commission/remuneration to a banker/any other person for realising such dividend/interest on behalf of the taxpayer;
2. Any other expenditure (not being in the nature of capital expenditure) made for making/earning such income; and
3. In case of Income from dividend/UTI(Unit trust of India)/MF(Mutual fund), only Interest Expenses allowed up to 20% of such income.

Following expenses cannot be claimed as deduction from Income from other sources:

1. Any personal expenses of the taxpayer ;
2. Cash Expenditure exceeding Rs.10,000 ;
3. Any interest chargeable under this Act which is payable outside India on which TDS has not been paid/deducted; and
4. Any payment chargeable under the head "Salaries", payable outside India on which TDS not paid/deducted ;