Interest receipts earned by the assessee out of FDs kept with ...

Income Tax

February 3, 2017

Interest receipts earned by the assessee out of FDs kept with Banks by way of margin money made for the purposes of the assessee’s business of import/ export trading in diamonds, constitutes business receipts/income and is therefore eligible for deduction u/s 10AA - AT

View Source

← Previous Next →

Interest receipts earned by the assessee out of FDs kept with ...

Income Tax

February 3, 2017

You may also like:

Correct head of income - addition of interest income on margin money kept with Bank/Financial Institution taxable under the head ‘income from other sources’ - The ITAT...

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...

Nature of receipts - interest earned on FDs during the year was prior to commencement of business - The Appellate Tribunal referred to a previous decision involving the...

Nature of income - Interest earned on margin money - The margin money from which the interest was earned was placed for the purpose of taking the loan - The loan was...

Assessee is entitled to deduction u/s 10B of the Act in respect of the interest income earned on FDRs made for the purposes of keeping margin money or for availing any...

Exemption from payment of income tax on interest earned - fixed deposits kept with certain banks which were corporate members of the assessee club - principle of...

Characterization of income - interest earned on ICDs - assessee is not in money lending business - when it is accepted that the assessee has taken a prudent business...

Taxability of interest income - ‘Interest on bank deposits, inter-corporate deposits, debentures, from sister concerns and ‘other interest - the surplus money, unless...

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

Deduction u/s 80IB - AO to examine the nexus between the borrowed money and money utilized for the purpose of earning interest income - AT

Quick Updates: