Interest on post office monthly income scheme.
This query is : Open
Archana Ganachari
(Querist)
12 March 2017
Whether Interest on MIS which is credited in SB and shown in profit and loss account, should also be taken in Balance sheet under Post office SB Balance.
Whether Recurring Deposit closed during the year should be deducted from the opening balance or not.
Whether Recurring Deposit closed during the year should be deducted from the opening balance or not.
CMA Ramesh Krishnan
(Expert)
12 March 2017
Interest received from post office deposit can be shown in other income and consider as bank balance if it is already credited in to your bank account not under Post office deposit
RD closed during the year show as liquidated current year as inflow.
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