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FDR Interest

J eswar

Sir, we are running into losses for the past 3 years. Is interest income is to be taxed seperately and and can not be setoff against current/previous year losses. ? Kindly clarify. Thanks

Interest Income Not Taxed Separately; Cannot Be Set Off Against Business Losses from Previous Years A user inquired about whether interest income should be taxed separately and if it can be set off against current or previous year losses, given their business has been running into losses for the past three years. Two respondents, Ganeshan Kalyani and Dr. Mariappan Govindarajan, both clarified that interest income will not be taxed separately. (AI Summary)
Income Tax
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