POSTED BY April 9, 2013 4:41 pm ONE COMMENTON
1. If I buy tax saving FD using Bank loan, that is correct or wrong?
Bank interest 15% X 5 years = 75 % We will lost in 5 years. Because we are using Bank loan.
Bank interest FDR 9.75 % X 5 = 48.75% we will get in 5 years from tax saving FD.
We will save 10% tax in 1 time. Hence, we get 48.75 + 10 % = 58.75% & we lost 75% means lose of 16.25% in 5 years. But due to this FD we can get 75% interest amount deducted as a expenses because our capital remains in our balance sheet. 75 X 10% = 7.5. If we consider this amount our loss will be 8.75% in 5 years. What is your opinion about it? Please guide me.
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