Our company is in to business of managing serior citizens apartments, residents have contributed non refundable interest bearing corpus fund which can be used only for major repairs and maintance of apartment building, we will be accruing notional interest to corpus fund (not creiting to any indiviual ledger). these group of senior citizens will not have any registered associtation but acts through their committeee representatives....
My questions are below....
1. how to account these accrued interest.......
2. what about tds on enterest accured.....(as not creditting to any indiviual account or registred association)
regards
Ramesh N
9900156836
CAclubindia
