21 August 2014
when we stand as unsecured loans in some other books and receive interest on that loan n we tax it under head other sources and the other parson to whom we have given loan take it as business exp. but wat if later on we stand as loans & advances in some other person's book and now instead of receiving we are liable to pay him interest ,now that intt. will be deducted from other sources? i am not running any business and taking intt received under head other sources
CAclubindia
