Easy Office

Other business by members in practice

This query is : Resolved 
Profile Image

Profile Image

(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?
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
20 October 2018 Interest on excess fund deposited is not business/professional income.
Profile Image

Shruthi Prasad

Profile Image

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?




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


Easy Office

Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links