Other business by members in practice
This query is : Resolved
Shruthi Prasad
(Querist)
20 October 2018
a CA firm wants to lend its excess funds and earn interest? And it will declare that income as part of its firm’s revenue/business income. Can members in practice do it?
20 October 2018
Interest on excess fund deposited is not business/professional income.
Shruthi Prasad
(Querist)
20 October 2018
Hi Sir, thanks for your response. Does that mean, it is considered as IFOS and allowed for members in practice to do so?
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