Interest entry in epc a/c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 December 2013
In my company 2 entries are made for payment of interest in EPC A/c as follows,
In EPC A/c
1)Bank interest EPC limits 1,99,525
To. Bank EPC A/c 1,99,525
In CC A/c
2) Bank EPC A/c 1,99,525
To.Bank CC A/c 1,99,525
Why this practice is followed, is it correct?
If yes, then why?
In EPC A/c
1)Bank interest EPC limits 1,99,525
To. Bank EPC A/c 1,99,525
In CC A/c
2) Bank EPC A/c 1,99,525
To.Bank CC A/c 1,99,525
Why this practice is followed, is it correct?
If yes, then why?
CMA Ramesh Krishnan
(Expert)
29 December 2013
It shows the fund for debiting interest from CC account. must be bank funding arrangement conditions
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