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FD interest

This query is : Resolved 

30 August 2010 Can FD Interest earned by a company be a part of his income from PGBP? If yes will it be considered while computing the Net Profit%

30 August 2010 Would depend upon the nature of FD deposit. If the same is given for some bank gurantee or loan taken by the company the same will be income from business only.

For purpose of calculating net profit % it will always be included as it is included in P &L A/c only.



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