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Treatment of interest on fixed deposit to trust
WHETHER SUCH INCOME IS TAXED SEPARATELY FROM BUSINESS INCOME EVEN IF THERE IS LOSS IN BUSINESS HEAD
Replies (2)
Interest income on fixed deposit shall be treated as income from other sources.
However, the loss from business can be set off to the extend of the Interest income on fixed deposit.
What about interest income from savings bank account ? Is that taxable on charitable trust hands ?
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