Hi all,
Would like to know whether Interest received from Escrow Account is taxable or not , and if taxable under which head .
Thanks in Advance
3 Replies
Asaithambi S
(CA)
(56 Points)
Replied 08 June 2013
Yes, taxable.
Under the head 'Income from other sources'
Lydia
(Student CA IPC / IPCC)
(39 Points)
Replied 09 June 2013
Can anybody explain what is escrow account pls?
CA VISHAL SINGH
(CHARTERED ACCOUNTANT)
(297 Points)
Replied 11 June 2013
Can u plz specify why it should be taxed in Income from other sources. Can we set off the interest income against Business expenditure
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