Interest income - new source of income - to be taxed as income ...

Income Tax

January 6, 2017

Interest income - new source of income - to be taxed as income from other sources and not as business income - AO rightly denied the application of provisions of section 44AF - Further the assessee has not satisfied the conditions of section 57(iii), so interest expenditure is not to be allowed as deduction - AT

View Source

← Previous Next →

Interest income - new source of income - to be taxed as income ...

Income Tax

January 6, 2017

You may also like:

Set off of the brought forward losses against the income from other sources - Ld. CIT (A) has rightly decided that, “although interest income has been shown as income...

TDS u/s 194A - interest income paid to a company carrying on a business of insurance need not deduct tax at source. - AT

Co-operative society carrying on banking business need not to deduct tax at source u/s 194A in respect of the interest paid to members on deposits - AT

Interest income - zero coupon money - interest earned by investing the surplus share money in bank deposits, such interest is taxable as income from other sources and...

The ‘interest income’ earned on business advances kept with the sister concerns should be treated as ‘business income’ instead of ‘income from other sources’ - AT

Interest income from temporary advancement of funds - interest received by the assessee cannot be treated as income from business and it has to be treated as income...

Income on account of interest treated as income from other sources – Disallowance of remuneration to partners from interest income - deduction allowed considering as...

Interest income of the assessee from fixed deposit is not “business income” but “income from other sources”- AT

Income from dividend, commission and interest from the business of trading in shares – dividend income arrived at by the appellant was chargeable under the head “Income...

Management and advisory fees - Business income or income from other sources - AO has not been able to prove that the appellant did not carry out the stated activity of...

Quick Updates: