Interest Income from Fixed Deposit of Co-operative Society made during course of business eligible for Deduction u/s 80P(2)(a)(i) of Income Tax Act : ITAT
The Kolkata bench of Income Tax Appellate Tribunal (ITAT) has recently held that interest income from fixed deposits of co-operative society made...
![Interest Income of Farmers Services Co-operative Society from Fixed Deposits in Union Bank of India deductible u/s 80P (2)(a)(i): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Interest-Income-Farmers-Services-Co-operative-Society-Services-Co-operative-Society-Fixed-Deposits-Union-Bank-of-India-ITAT-Taxscan.jpg "Interest Income of Farmers Services Co-operative Society from Fixed Deposits in Union Bank of India deductible u/s 80P (2)(a)(i): ITAT [Read Order]")
![Interest Income of Co-operative Credit Societies from Credit Balances deductible u/s 80P(2)(a)(i): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Interest-Income-of-Co-operative-Credit-Societies-Co-operative-Credit-Societies-Interest-Income-Credit-Balances-ITAT-taxscan.jpg "Interest Income of Co-operative Credit Societies from Credit Balances deductible u/s 80P(2)(a)(i): ITAT [Read Order]")
![Partner Lending Loan to Firm out of Bank Term Loan Eligible for Deduction of Net Interest Income u/s 57 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Bank-Term-Loan-Net-Interest-Income-Tax-Act-ITAT-TAXSCAN.jpg "Partner Lending Loan to Firm out of Bank Term Loan Eligible for Deduction of Net Interest Income u/s 57 of Income Tax Act: ITAT [Read Order]")
Interest Income from Loan Extended Against Mortgage of Properties would not Constitute Rental Income: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench, has recently, in an appeal filed before it, held that interest income from loan extended against mortgage of properties would not constitute...
![Interest Income from Loan Extended Against Mortgage of Properties would not Constitute Rental Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Interest-Income-Interest-Income-Loan-Extended-Mortgage-of-Properties-Properties-Constitute-Rental-Income-Rental-Income-ITAT-Income-Tax-taxscan.jpg "Interest Income from Loan Extended Against Mortgage of Properties would not Constitute Rental Income: ITAT [Read Order]")
TDS on Interest Income on FDRs: ITAT Rejects Plea by Emaar’s Subsidiary on Interest paid to Parent Company [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has recently, in an appeal filed before it regarding TDS on interest income on FDRs, rejected the plea by Emaar’s subsidiary on interest paid...
![TDS on Interest Income on FDRs: ITAT Rejects Plea by Emaar’s Subsidiary on Interest paid to Parent Company [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/TDS-Interest-Interest-Income-FDRs-ITAT-Subsidiary-Parent-Company-taxscan.jpg "TDS on Interest Income on FDRs: ITAT Rejects Plea by Emaar’s Subsidiary on Interest paid to Parent Company [Read Order]")
CBDT amends Procedure and Guidelines for submission of SFT for Interest Income: Abolishes Limit of Rs. 5,000 [Read Notification]
The Central Board of Direct Taxes (CBDT) has notified the amended procedure and guidelines for submission of Statement of Financial Transactions (SFT) for Interest income and abolished the limit of...
![CBDT amends Procedure and Guidelines for submission of SFT for Interest Income: Abolishes Limit of Rs. 5,000 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/01/CBDT-Procedure-and-Guidelines-for-submission-of-SFT-Interest-Income-Taxscan.jpg "CBDT amends Procedure and Guidelines for submission of SFT for Interest Income: Abolishes Limit of Rs. 5,000 [Read Notification]")
Relief to Vodafone India: ITAT allows Sec 80 Deduction on Interest Income and Miscellaneous Income [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal allowed deduction under Section 80 of the Income Tax Act, 1961 on interest income and miscellaneous income, thereby granting relief to M/s....
![Relief to Vodafone India: ITAT allows Sec 80 Deduction on Interest Income and Miscellaneous Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Vodafone-India-ITAT-Interest-Income-Miscellaneous-Income-TAXSCAN.jpg "Relief to Vodafone India: ITAT allows Sec 80 Deduction on Interest Income and Miscellaneous Income [Read Order]")
Interest Income earned on FD kept as Security for Performance Guarantee is Taxable as Business Income Can be set off against Project Expenses: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has held that interest income earned on Fixed Deposit (FD) kept as security for performance guarantee is taxable as business income Can...
![Interest Income earned on FD kept as Security for Performance Guarantee is Taxable as Business Income Can be set off against Project Expenses: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Interest-Income-Income-Interest-Fixed-Deposit-Security-Deposit-Performance-Guarantee-Guarantee-Taxable-Business-Income-Project-Expenses-ITAT-Taxscan.jpg "Interest Income earned on FD kept as Security for Performance Guarantee is Taxable as Business Income Can be set off against Project Expenses: ITAT [Read Order]")
![Interest Income not to be assessed When Assessee is Non-Resident: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Interest-Income-Interest-Income-Assessee-ITAT-Income-tax-taxscan.jpg "Interest Income not to be assessed When Assessee is Non-Resident: ITAT [Read Order]")
Incidental Income in form of Interest Income, eligible for Deduction u/s 10A: Delhi High Court [Read Order]
The Delhi High Court held that incidental income in form of interest income, eligible for deduction under Section 10A of the Income Tax Act, 1961. The Income Tax Appeal has been filed challenging...
![Incidental Income in form of Interest Income, eligible for Deduction u/s 10A: Delhi High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Incidental-Income-Interest-Income-Delhi-High-Court-taxscan.jpg "Incidental Income in form of Interest Income, eligible for Deduction u/s 10A: Delhi High Court [Read Order]")