INTEREST FROM FD AND SB ACCOUNT
This query is : Resolved
Kollipara Sundaraiah
(Querist)
12 September 2021
SIR,
interest income from fixed deposit and savings bank account income amounts treatment in books capital account transferred or profit and loss account transferred below two options.
1. It assess non business person.
2. it assess business person.
interest income from fixed deposit and savings bank account income amounts treatment in books capital account transferred or profit and loss account transferred below two options.
1. It assess non business person.
2. it assess business person.
CA R SEETHARAMAN
(Expert)
12 September 2021
1 Transfer it to capital account.
2 Transfer to capital account, as it's not a business income.
2 Transfer to capital account, as it's not a business income.
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