Bank interest recived from bank comes in direct income

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Querist : Anonymous

Querist : Anonymous (Querist)

04 August 2011 bank interest comes in direct income or indirect income?

CA Navin Jain (Expert)
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04 August 2011 Indirect Income

vijayakumar.sure (Expert)
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04 August 2011 If it is a banking company, its nature of business is banking, then it should be direct income or else indirect income.

Querist : Anonymous

Querist : Anonymous (Querist)

11 October 2015 ABC & Co has taken loan from vijendra& Co and repaid by Ashish & Co what will be journal entry in books of ABC & Co

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