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Income Tax - Highlights / Catch Notes

Home Highlights August 2019 Year 2019 This

If the expenditure is capitalized, the income earned on ...

Income Tax

August 20, 2019

If the expenditure is capitalized, the income earned on temporary parking of the funds being capital in nature will go to reduce the capital work-in-progress. - similarly, market research expenses and depreciation on leasehold improvements not to be allowed as business expenditure and and will be the part of capital work-in-progress.

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  9. 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...

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