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
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Application of 115BAC
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- 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?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
