Interest from Fixed Deposit Receipts is not business income; AO correctly disallows Section 32AB deductions, categorizing it as other income.

Whether interest income earned on surplus amount of funds involved in FDRs be treated as business income - The AO had rightly disallowed the deductions under Section 32AB out of the interest income treating the same as income from other sources - HC .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X