Interest income of money lender
Rajesh.S (Accountant) (107 Points)
26 September 2019
whether interest income of money lender is Business income or income from other source
4 Replies
Prince Kumar
(23 Points)
Replied 26 September 2019
It is business income and it is taxable under pgbp
Kalyani
(Chartered Accountant)
(181 Points)
Replied 26 September 2019
Business income, as it is realized as a result of business activity.
ANIL S PAWAR
(DEPUTY MANAGER)
(22 Points)
Replied 26 September 2019
Business means some activity carried on by devoting time, attention and labour either by the owner himself or through others.
Kapadia Pravin
(17264 Points)
Replied 26 September 2019
It's business income and if turnover exceeds 44AB limits, them audit is also applicable
Hope money lender holds necessary license for money lender activity.
Hope money lender holds necessary license for money lender activity.
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