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12 September 2015 A bank has given 4% loan of 7500000 dollar loan & made FD with them @ 9%.
now it is not used in business
income is 9% interest
expense is 4% interest
diff. is net income

company has current business of export
the 5% interest income rs.37500$ consider under Business or IFOS

12 September 2015 Interest income @9% has to be offered under IFOS and 4% interest paid cannot be deducted since it is paid not for earning income.



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