banner_ad

Interest accrual

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
06 July 2017 Dear Tax Experts

What is the Meaning of Interest accrual in Bank Interest?

Interest Accrual is taxable interest or not?
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
06 July 2017 let us assume interest is payable on 31/12 and 30/06
whereas books are closed and prepared on 31/03
so for the period from 31/12 to 31/3, we need to calculate the interest from 31/12 to 30/3...this will be treated as interest accrued.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
07 July 2017 Is this taxable interest?
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
07 July 2017 choice is with you....either you can offer it for taxation on receipt basis or accrual basis.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details