Classification of debenture interest
This query is : Resolved
18 July 2012
Hello!
Firstly many thanks to all the experts on this forum - it is very useful for the general public!
In ITR-2, which heading should we put the interest income from Non Convertible Debenture (such as those from Shriram Transport and L&T Finance)?
Is it to be clubbed with Bank Interest and mentioned under 1B ('Interest') of Schedule OS, or should we classify it separately under 1D ('Others excluding race horse income') of Schedule OS.
Thank you!
Firstly many thanks to all the experts on this forum - it is very useful for the general public!
In ITR-2, which heading should we put the interest income from Non Convertible Debenture (such as those from Shriram Transport and L&T Finance)?
Is it to be clubbed with Bank Interest and mentioned under 1B ('Interest') of Schedule OS, or should we classify it separately under 1D ('Others excluding race horse income') of Schedule OS.
Thank you!
18 July 2012
Interest will include all nature. Whether bank or non bank. so show under Interest only in 1b row
19 July 2012
agree with CMA Ramesh
1 Income
b Interest, Gross 1b
1 Income
b Interest, Gross 1b
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