Interest accrued but not due
This query is : Resolved
21 January 2009
For the purposes of section 211(1) of the companies Act , I need to know the guidelines of ICAI as to what is "interest due in case of bank interest on secured loans or working capital loans." I am told that it is available in ICAI Compendium of Opinion, Vol 1 Second edition 1984 Reprint page 12.
I need it rather urgently and badly ! Help !!
I need it rather urgently and badly ! Help !!
23 January 2009
Accrued & due is to be clubbed under secured / unsecured loans. Interest accrued but not due is to be shown under current liability.
Message likes :
1 times
23 January 2009
Thanks for all the trouble .
But firstly , the first part is no more correct because- Interest due but not paid is to be shown sepparately under a separate sub-head - under secured loans.
What is accrued but not due should be shown under current liabilities- this is the advise given in the aforesaid compendium ( Source Ramaiaya)
My problem is that I want access to that compendium of opinions (Vol.1) etc.
Whether interest charged by bank on 31st march and debited to my working capiatal loan account (debit balance) , could be said to be "Paid"; and not "outstanding" -requiring separate disclosure
But firstly , the first part is no more correct because- Interest due but not paid is to be shown sepparately under a separate sub-head - under secured loans.
What is accrued but not due should be shown under current liabilities- this is the advise given in the aforesaid compendium ( Source Ramaiaya)
My problem is that I want access to that compendium of opinions (Vol.1) etc.
Whether interest charged by bank on 31st march and debited to my working capiatal loan account (debit balance) , could be said to be "Paid"; and not "outstanding" -requiring separate disclosure
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reopen of assessment proceeding
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Management System (IMS)
- Rental income gst and it purpose
- FTS Taxable under 115A
- Experts need help
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- EPF FULL & FINAL RULES IN 2026
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
