income from interest on loans

This query is : Resolved

KAMAL PODDAR (Querist)
Follow

09 July 2009 I AM A PROFESSIONAL. APART FROM MY PROFESSIONAL INCOME I HAVE INCOME FROM INTEREST ON LOANS AND ALSO INTEREST FROM BANK. cORRECTLY IT SHOULD COME UNDER THE HEADING INCOME FROM OTHER SOURCES BUT MY ACCOUNTANT SAYS IT SHOULD BE INCLUDD IN PROFIT & LOSS ACCOUNT UNDER THEHEAD PROFITS FROM BUSINESS PLEASE ADVICE.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
Follow

09 July 2009 its income from other sources

Message likes : 1 times

Ratan Sharma

Ratan Sharma (Expert)
Follow

09 July 2009 Agree with expert. Even if it is included in profit & loss, in books of account for accounting purposes, you can segregate the same in your Income Tax Return.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

R B Pethe

Dhananjay Patil

tpksathyan narayanan

Dhananjay Singh

HITESH PATEL

Subscribe Now

income from interest on loans

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA