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Interest income

This query is : Resolved 
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(Querist)
08 November 2014 Can we show interest income as business income as the Firm is dealing in Finance Activity? But finance given to single party? Any judgements or orders?

Thanks in advance
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
11 November 2014 its risky to claim it as business income...because lending activities come under RBI (NBFC) norms....so unless you have NBFC registration, dont show lending activities as your business.
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