INTEREST ON SECURITY DEPOSIT

Charudutta R. Mhalgi (Querist) 31 July 2010 This query is : Resolved
FILE ATTACHED HEREWITH

Follow Query

Report Abuse

soumitra basu (Expert) 01 August 2010
1. The interest on security deposit is allowable under section 37 of the income tax act provided the withdrawl was made for business purpose.

2. It is better to provide the interest on every financial year if the contract maintain accounts on mercantile basis. Otherwise the interest can be debited and claimed when it is crystalized.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries

Can we claim land donated by great grand father?
Dgr wages calculation for 3 guards round the clock
Undivided ancestral land, if more than 80% wish to sell
Required draft noc for installation of solar panel
Installation of solar panel on apartment terrace
Poa by a pvt ltd company
Requested for advice
Inserting certain clause in the appointment letter
How i won the lottery using spell casting
Is ex service man sells the govt issued land ?

Vacation judge
Legal notice used for harrasment
Settlement
Is advocate guilty?
Advocate�s duty to justice apply to the pre-litigation ?
Legal opinion on baseless legal notice and law
Dismissals due to defective legal notices
Legal notice content
Validity of legal notice.....
Reposting it because it was marked resolved by mistake