Interst income from finance business
This query is : Resolved
16 March 2018
Dear Sir/ Madan,
Interest income from finance business, Can we show this income under section 44AD?
16 March 2018
no , Interest income not covered under sec 44AD ,
16 March 2018
you can not treat Income from Finance business interest under income from other sources
16 March 2018
Yes... If your Income exceeds above Rs. 1 Cr then You fall under Tax Audit case as u/s 44AB
16 March 2018
Income is below 1crore and profite is less than 8 percent should i file under section 44AB?
17 March 2018
yes if you declare income less than 8% than Tax audit will apply.
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