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Taxable under which head of income

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(Querist)
22 August 2010 If Rs. 1000000 is kept as Fixed Deposit in Bank in the name of a Pvt. Ltd. (say XYZ Pvt. Ltd.), then the interest received on the fixed deposit is taxable under the head profit gains from business/profession or income from other sources?
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
22 August 2010 According to me -- income from other sources
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CMA KNVV Sri Vidya - Sri Kanth

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CMA KNVV Sri Vidya - Sri Kanth (Expert)
23 August 2010 Income from other sources
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
23 August 2010 In case of FD in Company name, fund are used for FD is business fund, it is usually taken in Business income itself.
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
23 August 2010 agree with CA. BIJENDER KR. BANSALji ,
IF FD IS OUT OF BUSINESS FUND THEN IT WILL BE TREATED AS BUSINESS INCOME.

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