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Interest Income

This query is : Resolved 
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(Querist)
29 September 2009 Dear Sir/madam

My Income is form B & P and P & L included the interest income which is received by party grouped under loan and advances. will it disallowed from B & P head and should be included in Income from other sources.

The status of assessee is Individual.

Pls tell me earlier.

thanks
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vinod kumar lalwani

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vinod kumar lalwani (Expert)
30 September 2009 if nature of business is financing in nature then it will be classified under business and if not then under other sources.

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