Tag Archives: Interest on FDRs

Interest on FDRs made out of customer advances was not income

By | October 1, 2015

whether Interest on FDRs made out of customer advances wasn’t income from other sources if same was reduced from WIP ?   Where a construction company, received bank interest on FDRs which were made out of advances received from customers, even if construction was not complete during current year interest income could not be treated as… Read More »