Interest received after 31 mar
This query is : Resolved
31 May 2013
I have received interest on NHAI capital gain bonds for the F.Y. 2012-13,which has been credited to my a/c on 03 Apr.Do i have to account it as income for 2012-13 or can I show it as Income for next F.Y. 2013-14.
31 May 2013
If you following accrual basis of accounting then you have to offer income in the F.Y 2012-13. If you following cash basis of accounting then you have to offer income in the F.Y 2013-14.
OM SAI SRI SAI JAI JAI SAI
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