Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 February 2014
If a person has interest income only and no other income can he treat interest income as business income
Nischit Sanghavi
(Expert)
08 February 2014
If it is earned from normal saving, then it will fall under the head of Income From Other Sources.
If you are in business and out of business income you made an investment and earning interest, it will be treated as business income.
If you are in business and out of business income you made an investment and earning interest, it will be treated as business income.
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