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business income

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29 Points Posted on 21 December 2018
while I file partership firm's
return whether should i show interest income separately in other source income Or not? because in income computed U/S 143(1) , interest income calculated two times.
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On 21 December 2018 at 20:01 Report
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student
40 Points Posted on 21 December 2018
Yes it should be shown separately
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On 21 December 2018 at 20:18
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1020 Points Posted on 21 December 2018
if your primary business is landing money and earning interest on them then , interest income is shown under business income. otherwise it is shown Under the head "income from other sources "
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On 21 December 2018 at 20:46
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29 Points Posted on 21 December 2018
it's fd interest
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On 21 December 2018 at 21:45
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1020 Points Posted on 21 December 2018
then it must be shown under the head "Income from other sources "
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On 21 December 2018 at 22:53
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Practice
3235 Points Posted on 22 December 2018
the interest earned on FDRs is always income from other source if use of money is investment purpose but in case fdrs made as bank guarantee or margin money in that case interest earned is income under head pgbp.
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On 22 December 2018 at 00:03


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