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 March 2019 Year 2019 This

Interest income - Correct head of income - income from other ...

Income Tax

March 14, 2019

Interest income - Correct head of income - income from other sources OR income from business - if interest income earned by the assessee is not incidental to the business activity of the assessee but on loans in the market for earning the interest intentionally and deliberately then it is income from other sources and not the business income.

View Source

 


 

You may also like:

  1. Interest earned on loans given to employees will be taxed under the head “business income” - AT

  2. 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...

  3. Deduction u/s 80P(2)(a) - interest income - When the assessee is wholly and exclusively doing its business for its members, the earning of interest on FDs with the banks...

  4. 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

  5. Income from other sources - the assessee has shown bank interest under the head income from other sources and net difference of interest income earned and interest...

  6. Treatment of interest earned by assessee as “Income from Other Sources” - assessee did not claim for any exemption of interest income on the basis of ‘doctrine of...

  7. Correct head of income - interest income on FD - Income From Other Sources v/s income from business - The said interest income has been earned by the assessee in the...

  8. 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...

  9. Nature of interest income - Appropriate taxable head of income - Because except its subsidiary, the assessee has not given Bank Guarantee to anybody else, which can...

  10. Income earned by assessee on sale/purchase of shares and securities through PMS is to be assessed under the head “capital gains“ and not as business income of the assessee - AT

 

Quick Updates:Latest Updates