Income from salary

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silvi ubal gomes (Querist)
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20 May 2009 Suppose there is a condition for a person before joining the bank that the person should keep a fixed deposit of Rs 50000/- on which the bank would give 10% return. Whether such income would be included under the head income from salary as keeping deposit is the main condition for getting employment in the bank?? Please provide supporting reasons

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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20 May 2009 No it will not be treated as salary income.

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CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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20 May 2009 otherwise even if it is normal deposit you will show it as essential for job and get it included in salary, which is not allowed.

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CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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20 May 2009 agree with the expert

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Jiwan singh

Jiwan singh (Expert)
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21 May 2009 its not income from salary,its income from other sources

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O.D.SHARMA

O.D.SHARMA (Expert)
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21 May 2009 Dear,There is no connection in salary income & intrest income.Both to be treated seperately.

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