Interest on nsc
This query is : Resolved
21 September 2013
A partnership firm has NSC of Rs.20000 so my question is whether we require to add 8.13%, 8.83% etc. as interest upto maturity or we can consider total interest at the year of maturity..
21 September 2013
if u are following the accrual principle, then keep accruing interest yearly.
21 September 2013
If you following is accrual basis then pass the entry of interest per year as accrued interest on NSC in the end of every year...
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