Taxable under which head of income
This query is : Resolved
22 August 2010
If Rs. 1000000 is kept as Fixed Deposit in Bank in the name of a Pvt. Ltd. (say XYZ Pvt. Ltd.), then the interest received on the fixed deposit is taxable under the head profit gains from business/profession or income from other sources?
22 August 2010
According to me -- income from other sources
23 August 2010
Income from other sources
23 August 2010
In case of FD in Company name, fund are used for FD is business fund, it is usually taken in Business income itself.
23 August 2010
agree with CA. BIJENDER KR. BANSALji ,
IF FD IS OUT OF BUSINESS FUND THEN IT WILL BE TREATED AS BUSINESS INCOME.
IF FD IS OUT OF BUSINESS FUND THEN IT WILL BE TREATED AS BUSINESS INCOME.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- SFT Cash Deposit in Current Account
- Annual return in Gst
- FORM 26A APPLICABILITY
- When TDS on GST applied
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
