Interest accrual

This query is : Resolved

Querist : Anonymous

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?

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

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.

Querist : Anonymous

Querist : Anonymous (Querist)

07 July 2017 Is this taxable interest?

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

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

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

6380177036

Krishnan V

Rishikesh Raj

Choudhary

Jitin Aditya Kapur

Subscribe Now

Interest accrual

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Internal & Taxation Article

U.S. Financial Reporting & Consolidation Manager

Fundraising Expert

CA Article Trainee

Accountant

Accounts, Audit & Compliance Executive

Account Executive

Article