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This query is : Resolved
Ravi Mittal
(Querist)
01 October 2011
Sir,
I want to ask you the following questions...
Whether the interest received from loans and deposits can be included in deemed income for computing 8 percent of the total turnover or gross receipts of a proprietorship concern whose Business is of Cattle feed and Oil Cake.
The deemed profit is not arrived 8 percent of the total turnover of such business.However it will be more than 8 percent while including such interest from Loans and deposits.
I want to ask you the following questions...
Whether the interest received from loans and deposits can be included in deemed income for computing 8 percent of the total turnover or gross receipts of a proprietorship concern whose Business is of Cattle feed and Oil Cake.
The deemed profit is not arrived 8 percent of the total turnover of such business.However it will be more than 8 percent while including such interest from Loans and deposits.
CA Ayush Agarwal
(Expert)
02 October 2011
No.Not included.
If This is Not Business Activity.
If This is Not Business Activity.
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