Sir if i am earning interest in my name ,
not in my business name should i have to show it in the p&l of the business?
please tell me about this topic in details i am little bit confuse.
it's my humble request to you.
No need.
Interest of savings account as well as FDs in bank need not be declared in profit & loss account of Business.
No. However, this interest should be offered to tax as income from other sources.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
