Interest on forfeited bank account ??? taxable
This query is : Resolved
08 July 2014
Hi friends
My company is manufacturing co. one of the bank account is forfeited by bank with some amount maintained in that A/c. Now for the FY 2013-14 it is released with interest.
is it comes under other income in the manufacturing co.
is it Taxable in the company hands ???/
My company is manufacturing co. one of the bank account is forfeited by bank with some amount maintained in that A/c. Now for the FY 2013-14 it is released with interest.
is it comes under other income in the manufacturing co.
is it Taxable in the company hands ???/
08 July 2014
Taxable in the hands of company under the head income from other sources.
Message likes :
1 times
Rupesh Jain
(Expert)
08 July 2014
taxable in the company hand under income from other sources.
Message likes :
1 times
11 July 2014
for co its taxable as income from other sources.
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