Heads of income

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Raj Dutta (Querist)
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08 September 2009 Sir,
in case of corporate(Non Financing Co) assesse,wheather it is correct to show Interest Income earned by the co. under the head "BUSINESS INCOME" (In ITR 6)or it should be shown under the head "INCOME FROM OTHER SOURCE"

please suggest

with regards

raj

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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08 September 2009 If the interest earned is due to incidental or anciliary activites of the business, then it should be a part of business income, otherwise it is to be shown as Income from Other sources.

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