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In which head income will fall?

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(Querist)
11 December 2013 Dear all

Please suggest me , if a person invested in a project fromwhere the dealer has made an arrangment via which every month Rs.12000 will be received by the person who will invest in the project for the period of 5 years and after 5 years the amount will be repaid to the person. So the amount Rs.12000 will be covered under income from other sources in my opinion.Is it correct or any suggestion?

Thanks

Pradeep kumar
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motichand gupta

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motichand gupta (Expert)
11 December 2013 it is like a interest you get on bank FD.
you are geting in return in the form of return on equity.
It would go to "Income from Other sources".
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CA Ankit Anupkumar Luharka

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CA Ankit Anupkumar Luharka (Expert)
11 December 2013 under income from other sources
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PRADEEP KUMAR VATS

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PRADEEP KUMAR VATS (Querist)
11 December 2013 thanks motichand and ca ankit
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