27 April 2012
1. a SEC 25 COMPANY STATUS WOULD BE AOP/PRIVATE LIMITED COMPANY/ AOP(TRUST) ??
2. COMPANY HAS INVESTED THE GOVERNMENT GRANT RECEIVED IN BANK FD AND RECEIVED INTEREST. (AS PER GRANT RULES, COMPANY WILL GET GRANT LESS BY INTEREST RECEIVED ON FD)
IN ACCOUNTS COMPANY ADDS INTEREST RECEIVED TO GRANT RECEIVED AS A CAPITAL RESERVE.
WHAT IS TO BE DONE IN TAX? SUCH INTERST WILL INTEREST BE TRETED AS A CAPITAL RECEIPT?
CAclubindia
