How to pass entry (portfolio management entry)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 June 2014 DEAR SIR,

I AM INVEST IN HDFC PORTFOLIO ,AS ON 14-APRIL-2014 I HAVE RECEIVED PRINCIPAL AMT ,INTEREST AFTER DEDUCTING TDS ,WHAT ENTRY I SHOULD PASS AS ON 31-MARCH-2014 BECAUSE THIS IS AMT TILL 31-MAR-2014

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 June 2014 the investment account shall remain as it is. for the interest/income portion, if you are following accrual accounting, you may create an interest receivable (at gross level) position as current asset.

in cash basis, you dont have to account for the income at all as on 31 march 2014.

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