<h1>Interest on Bank Guarantee Deposits is Business Income, Must Be Included in 'Book Profit' u/s 40(b) Tax Code.</h1> Interest earned on deposits made to secure a bank guarantee is considered business income and should be included in the 'book profit' for the purposes of section 40(b) of the tax code. This classification affects how businesses report their income and calculate their tax liabilities, ensuring that such interest is accounted for in their taxable profits.