Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2015 Year 2015 This

Accrual of interest income - the directions with regard to the ...

Income Tax

July 2, 2015

Accrual of interest income - the directions with regard to the prudential norms issued by the Reserve Bank of India are equally applicable to the assessee as it is applicable to the companies registered under the Companies Act - interest on NPA assets cannot be said to have accrued to the assessee - AT

View Source

 


 

You may also like:

  1. As per CBDT circular and section 45Q of the RBI and prudential Norms issued by the RBI interest income could not be accured on Non Performing Assets (NPA) by Banks as...

  2. Additions against unsecured loan received - Loan takenfrom NBFCs - it can be seen that they have followed all the RBI guidelines and prudential norms issued by RBI as...

  3. Accrual of income on Kisan Vikas Patra - Promissory note OR not - the interest on Kisaan Vikas Patras has to be assessed to income tax on accrual basis - HC

  4. Fixation/review of Norms of advance authorization by Norms Committee (NC-7) from new online Norms Fixation IT module - Trade Notice

  5. Fixation of Norms for Advance Authorisation - Experts may be invited from Scientific and Technological institutions as members of Norms Committee for fixation of Norms.

  6. Direction in original appellate proceeding - Not challenged - it cannot now question the findings of the lower appellate authority based on earlier direction - No...

  7. Addition of notional interest – accrual of interest - uncertainties exist - The relevant circulars of the Central Board of Direct Taxes cannot be ignored - interest can...

  8. Interest on sticky advances – accrual of income - provision of interest on doubtful debts - the interest income relatable to NPA advances did not accrue to the assessee - AT

  9. Inclusion of corrected details in the EDI system to enable the petitioner to get its refund - refund of IGST with interest - direction issued - HC

  10. Clarification regarding applicability of GST on additional / penal interest - Corrigendum issued - No GST on Penal Interest where goods purchased on installments (EMI)...

 

Quick Updates:Latest Updates