A salary person has taken loan from bank and invested in some business of other person and gets return from that investment. how to show it in itr.
please suggest...
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Quick Summary
A salary earner has taken a bank loan to invest in another person's business and is receiving returns. They are seeking guidance on how to declare this income in their Income Tax Return (ITR). The query explores whether the returns should be treated as 'interest' under other income or as 'business income' if it represents a share of profits.