FD interest of Charitable trust

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72 Points Posted on 27 August 2022
Interest income on FD of charitable Trust taxable under which head.
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On 27 August 2022 at 08:53 Report
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This discussion clarifies the tax treatment of interest earned on Fixed Deposits (FDs) held by charitable trusts. The consensus is that such interest income is taxable under the head 'Income from Other Sources'. This applies even when the entity is registered as a charitable trust, as exemplified by the Bombay Presidency Golf Club.

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Profession Business
28246 Points Posted on 27 August 2022
Interest income on fd is other sources.
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On 27 August 2022 at 21:33
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754 Points Posted on 27 August 2022
Interest on fixed deposits (FDs) earned by the Chembur-based Bombay Presidency Golf Club ... The club is registered as a charitable trust.
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On 27 August 2022 at 23:04
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Chartered Accountant
86505 Points Posted on 03 September 2022
In other sources
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On 03 September 2022 at 20:41

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