Interest income from parent company and taxation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 May 2013
Hi,
Could you please explain me the income tax treatment of interest income received from parent company company in the hands of subsidary.Parent company is a bank and the subsidary is an insurance company acquired by the parent company.Subsidary is holding bank account with the parent company which is a bank.
Could you please explain me the income tax treatment of interest income received from parent company company in the hands of subsidary.Parent company is a bank and the subsidary is an insurance company acquired by the parent company.Subsidary is holding bank account with the parent company which is a bank.
28 May 2013
From the Income-tax Act point of view, these are two different company assessees.
.
The interest received from the parent company by the subsidiary is taxable in the hands of the Subsidiary company whereas the parent company can claim the same as expense.
.
.
The interest received from the parent company by the subsidiary is taxable in the hands of the Subsidiary company whereas the parent company can claim the same as expense.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ADVANCE PAYMENT OF ADVOCATE
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Eway bill generation from place other than registeted
- GST rate and HSN code for sale of racing horses
- Condonation . E-Verification of last year return .
- DIN reactivation
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- TDS Return Q1 FY 2026-27
- CREDIT NOTES WITHOUT GST
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
