Treatment of interest on fixed deposit to trust

PREETI GAUTAM (Article in ca firm) (23 Points)

25 May 2017

WHETHER SUCH INCOME IS TAXED SEPARATELY FROM BUSINESS INCOME EVEN IF THERE IS LOSS IN BUSINESS HEAD

Reply
Follow
Share

2 Replies

Prity Agarwal (CHARTERED ACCOUNTANT) (363 Points)
Replied 25 May 2017

Interest income on fixed deposit shall be treated as income from other sources.

However, the loss from business can be set off to the extend of the Interest income on fixed deposit.

karthikn raju (Student CA Final ) (45 Points)
Replied 01 August 2017

What about interest income from savings bank account ? Is that taxable on charitable trust hands ?

Start a New Discussion

view all classess

Forum Home