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sec 269ss and sec 269t

This query is : Resolved 
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13 October 2007 Is it ok if the client who is being audited, excludes interest accrued on deposits in the aggregate amount standing outstanding at he end of the year.ie if the interest has been directly credited to the vendors account.in other words deposits excludes any interest element......
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Late CA Sampat Jain

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Late CA Sampat Jain (Expert)
13 October 2007 no
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CA. Dashrath Maheshwari

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CA. Dashrath Maheshwari (Expert)
15 October 2007 If interest is payable yearly then only its possible.
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