PART OF BOOK PROFIT
This query is : Resolved
28 August 2009
PLEASE LET ME KNOW WHETHER INTEREST RECEIVED BY A PARTNERSHIP FIRM ON SECURITY DEPOSITS KEPT WITH THE CREDITOR COMPANY IS A PART OF BUSINESS INCOME OR IT IS THE INCOME FROM OTHER SOURCES.
CAN WE CONSIDER INTEREST ON SECURITY DEPOSIT FOR COMPUTING BOOK PROFIT OR IT SHOULD BE DEDUCTED.
UR VALUABLE ADVISE IS NEEDED.
THANKS IN ADVANCE
CAN WE CONSIDER INTEREST ON SECURITY DEPOSIT FOR COMPUTING BOOK PROFIT OR IT SHOULD BE DEDUCTED.
UR VALUABLE ADVISE IS NEEDED.
THANKS IN ADVANCE
28 August 2009
Its part of business income because security deposit was in course of business.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- LIABILITY ADJUSTMENT
- Average Cost Of High Quality Diamonds
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
