In which head income will fall?
This query is : Resolved
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
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
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".
you are geting in return in the form of return on equity.
It would go to "Income from Other sources".
11 December 2013
under income from other sources
11 December 2013
thanks motichand and ca ankit
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