![Interest Income from Nationalized Banks is Business Income, Eligible for 80-P Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Business-Income-Taxscan.jpg "Interest Income from Nationalized Banks is Business Income, Eligible for 80-P Deduction: ITAT [Read Order]")
Interest Income from Nationalized Banks is Business Income, Eligible for 80-P Deduction: ITAT [Read Order]
Kolkata bench of Income Tax Appellate Tribunal (ITAT) has recently held that interest income earned from nationalized banks shall be treated as...
TDS on Interest Income Accrued to a Minor after Parent’s Death, shall be Deducted from Minor, not from Grand-Parents: CBDT
The Central Board of Direct Taxes (CBDT) recently clarified that, on death of both parents, the TDS on the interest income accrued to a minor shall be deducted from the Minor, not from Grand-parents. ...
Interest Income on FDs used as Borrowing Margin Money for purpose of Setting Up the Industry is Taxable as ‘Other Income’: Rajasthan HC [Read Judgment]
In a recent ruling, the Rajasthan High Court held that the interest earned on Fixed Deposit receipts used by the assessee as borrowing margin money for funds for setting up the industry is revenue...
Interest Income from Bank FDs earned during Pre-Operative period is Taxable as ‘Income from Other Sources’: ITAT Hyderabad
The Income Tax Appellate Tribunal (ITAT), Hyderabad bench, in the case of DRS Warehousing (South) v. ITO, held that the interest on FDs earned during the pre-operative period is taxable as ‘Income...
Waiver of Interest Income by the Company by passing Resolution is Excludable from Taxable Income: Calcutta HC [Read Judgment]
In Shiva Laxmi Exports Ltd v. CIT, the division bench of the Calcutta High Court held that interest income could not said to have had accrued when the same was waived by the Company by passing a...
![Waiver of Interest Income by the Company by passing Resolution is Excludable from Taxable Income: Calcutta HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/05/Calcutta-High-Court-Taxscan.jpg "Waiver of Interest Income by the Company by passing Resolution is Excludable from Taxable Income: Calcutta HC [Read Judgment]")