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Stock-in-trade

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(Querist)
12 June 2009 If any income is earned on stock-in-trade, what is the treatment of the same and where it should be discloed in financial statements??

Eg. A company is having stock of equity shares on which it erans dividend income. What is the traetment for the same??
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Jitender

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Jitender (Expert)
12 June 2009 it will be normal business income.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
13 June 2009 From taxation point of view, it would be taxable under Income from other sources.
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