Interest on security deposit with pidilite industries

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article assistant
501 Points Posted on 22 December 2021
where to show interest on security deposit with pidilite industries in other sources or business Income
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On 22 December 2021 at 17:59 Report
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Quick Summary
This discussion clarifies how to report interest earned on a security deposit with Pidilite Industries for tax purposes. The consensus is to declare this interest under 'Income from Other Sources', specifically as 'Interest on securities' as per section 56(2)(id) of the Income Tax Act.

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GST Practitioner & Accounts
15152 Points Posted on 22 December 2021
You have show as a Income from other Sources.
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On 22 December 2021 at 19:38
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Company Secretary
7085 Points Posted on 22 December 2021
Show Interest on securities under the head income from other sources u/s 56(2) (id)
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On 22 December 2021 at 20:22
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126 Points Posted on 22 December 2021
Income from other sources
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On 22 December 2021 at 22:20

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