In which head income will fall?
This query is : Resolved
11 December 2013
Dear all
Please suggest me , if a person invested in a project fromwhere the dealer has made an arrangment via which every month Rs.12000 will be received by the person who will invest in the project for the period of 5 years and after 5 years the amount will be repaid to the person. So the amount Rs.12000 will be covered under income from other sources in my opinion.Is it correct or any suggestion?
Thanks
Pradeep kumar
Please suggest me , if a person invested in a project fromwhere the dealer has made an arrangment via which every month Rs.12000 will be received by the person who will invest in the project for the period of 5 years and after 5 years the amount will be repaid to the person. So the amount Rs.12000 will be covered under income from other sources in my opinion.Is it correct or any suggestion?
Thanks
Pradeep kumar
11 December 2013
it is like a interest you get on bank FD.
you are geting in return in the form of return on equity.
It would go to "Income from Other sources".
you are geting in return in the form of return on equity.
It would go to "Income from Other sources".
11 December 2013
under income from other sources
11 December 2013
thanks motichand and ca ankit
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Sale of property furniture sale
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
