Interest Income
This query is : Resolved
Ankit Jain
(Querist)
29 September 2009
Dear Sir/madam
My Income is form B & P and P & L included the interest income which is received by party grouped under loan and advances. will it disallowed from B & P head and should be included in Income from other sources.
The status of assessee is Individual.
Pls tell me earlier.
thanks
My Income is form B & P and P & L included the interest income which is received by party grouped under loan and advances. will it disallowed from B & P head and should be included in Income from other sources.
The status of assessee is Individual.
Pls tell me earlier.
thanks
vinod kumar lalwani
(Expert)
30 September 2009
if nature of business is financing in nature then it will be classified under business and if not then under other sources.
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