Just a moment...

Report
FeedbackReport
Bars
Logo TaxTMI
>
×

By creating an account you can:

Feedback/Report an Error
Category :
Description :
Min 15 characters0/2000
TMI Blog
Home / RSS

Expenses like fees, damage, verification, reimbursement, and lease rent are not income; distinct from loan interest.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Nature of receipts - The expenses such as processing fees, damage charges, verification charges, reimbursement charges and lease rent etc are expenses and they cannot be added to the income. The character of the receipts above is not synonymous to interest on loans and advances. - HC....