Interest from loans considered as ?
durgaprasad (accounts executive) (225 Points)
30 December 2016durgaprasad (accounts executive) (225 Points)
30 December 2016
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(176622 Points)
Replied 30 December 2016
If that be his regular business, it may be considered as business income, otherwise generally it is assessed as IFOS.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India