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Income Tax - Highlights / Catch Notes

Home Highlights February 2017 Year 2017 This

Interest receipts earned by the assessee out of FDs kept with ...


Interest from Fixed Deposits for Diamond Trading Business Qualifies for Deduction u/s 10AA of Income Tax Act.

February 3, 2017

Case Laws     Income Tax     AT

Interest receipts earned by the assessee out of FDs kept with Banks by way of margin money made for the purposes of the assessee’s business of import/ export trading in diamonds, constitutes business receipts/income and is therefore eligible for deduction u/s 10AA - AT

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