Bank income from loans is usually taxable.

Name: Bank income from loans is usually taxable.
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Quizplus · Accepted Answer

Bank income from loans is considered revenue and is subject to taxation. This income includes interest income and fees charged on loans. Exceptions may exist for certain types of loans, such as those made to non-profit organizations or through government-sponsored programs, but generally, loan income is taxable.

Bank Income from Loans Is Usually Taxable