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Bank interest recived from bank comes in direct income

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 August 2011 bank interest comes in direct income or indirect income?
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CA Navin Jain

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CA Navin Jain (Expert)
04 August 2011 Indirect Income
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vijayakumar.sure

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vijayakumar.sure (Expert)
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.
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Querist : Anonymous

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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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