Dear All,
My Company has executed sale agreement for disposal of property 3 months before for Rs. 118 Crores. However there is delay in payment by other party. So we are charging 12.5% interest on the consideration.
Now my query is that interest what i am receiving from other party ... shall i consider it as interest (i.e. income from other sources) or should it be conidered as a part of my sale consideration (i.e. Capital gain)
An early reply is highly appreciated.
With regards
Shweta Maheshwari
CAclubindia
