Under which head should we offer interest on fixed deposit received by an AOP ? Can we adjust it with the excess of expenditure over income for the year ?
monika goel (student) (6 Points)
31 January 2017Under which head should we offer interest on fixed deposit received by an AOP ? Can we adjust it with the excess of expenditure over income for the year ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160860 Points)
Replied 31 January 2017
Income From Other Sources. Yes, it can be adjusted against business loss.
CAclubindia
