Interest on deposits and late payment
CA Piyush Shivani (...) (137 Points)
09 November 20192..interest from debtors on late payment is exempt or taxable .
CA Piyush Shivani (...) (137 Points)
09 November 2019
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 09 November 2019
S ELAVARASI
(ACCOUNTANT)
(2975 Points)
Replied 09 November 2019
Originally posted by : CA Piyush Shivani | ||
1..is indirect income by way of interest on deposits, mandatorly required to be shown as exempt supply in gstr9. - NO NEED
2..interest from debtors on late payment is exempt or taxable . - YES... TAXABLE. |