Interest received by coperative society
This query is : Resolved
HARSHAL V KULKARNI
(Querist)
29 August 2013
Interest received on surplus funds invested in FDR of nationalised/ Private Banks by Coperative Housing Society is taxable or not?
If taxable under which head & Section?
If taxable under which head & Section?
CA PARAS BAFNA
(Expert)
29 August 2013
In case of interest is received from a bank other than a co-operative society , it is taxable under the head Income from Other Sources U/s Section 56(2).
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