20 April 2010
I am sorry to disagree with Mr. Chakrapani. I don't think that interest accrued should be reported as loan/ deposit received or accepted.
03 August 2010
I believe, opinion of Mr Chakrapani is correct in view of the fact that interest accrued on the deposit/loan and credited to the account periodically or otherwise partakes the character of a deposit/loan and as such becomes a deposit/loan itself, so the same should also be considered.
CAclubindia
