Tag: Fixed Deposit interest income
Interest income on fixed deposits of the surplus funds put in FDRs cannot be treated as business income but income from other sources – ITAT In a recent judgment, ITAT Interest income on fixed deposits of the surplus funds put in FDRs cannot be treated as business income …
Non renewed Fixed Deposits to attract less interest – RBI Directions RBI has revised its Instruction with respect to where a Fixed / Term Deposit matures and remains unpaid/unclaimed As per the existing instruction, if a Term Deposit matures and proceeds are unpaid, the amount of left unclaimed …
Interest on FDRs-deduction of Interest paid on unsecured loans taken to make investment in bank FDRs allowed u/s 57(iii) in view of the clear nexus. ABCAUS Case Law Citation:ABCAUS 2673 (2018) (12) ITAT Important Case Laws Cited/reliedupon:CITvs. V.P. Gopinathan (2001) 248 ITR 449 (SC) The appeal by the …
Interest on fixed deposits during construction period held not taxable as FDRs were made out of share application money and not borrowed fund ABCAUS Case Law Citation: ABCAUS 2046 (2017) (08) ITAT Assessment Year : 2009-10 Important Case Laws Cited/relied upon by the parties: Tuticorin Alkali Chemicals …
Fixed Deposit interest income during pre-operative period taxable as income from other sources and can not be set off against interest on borrowed money – ITAT ABCAUS Case Law Citation: ABCAUS 1267 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the …
