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Interest income

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Learner
3134 Points Joined September 2009
Dear All, I m working for a real estate company and we charge interest to clients if they don't give due amount within due date. So my question is should we charge service tax on that interest income?
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On 11 October 2016 at 21:14 Report
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SEO Sai Gr. Hosp.
211552 Points Joined July 2016

No. charging interest over Default is not termed as service. 

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On 12 October 2016 at 08:38
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Accounts Manager
1466 Points Joined August 2013

YES AGREE WITH SIR

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On 12 October 2016 at 11:53
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Accounts Manager
1466 Points Joined August 2013
YOU CAN SHOW YOU INTEREST INCOME IN HEAD- INCOME FROM OTHER SOURIES
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On 12 October 2016 at 11:54

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