Accrued Interest

As per my knowledge u should show ur accured income in ur income tax return.

you can consider anything you want, if  you are formulating financial statements for your own purpose.. but for statements for specific laws, the provisions have to be borne in mind..

If you maitain your books of accounts on accrual basis then you have to consider the same in current year only .....other wise in next year

Regards

Madhusudan Kabra

can any one tell if one has taken a FD oF Rs 5000 on 16/07/2009.... @ 7.05 interest...how do we calculate Accrued Interest on 31/03/2010 ....my bank showing maturity amt Rs5426 maturity date 16/09/2010
 

how to compute capital gain

                                 QTY        TOTAL     BROKERAGE     SERVICETAX         STT

Purchased RNRL 10            810          4.05                     0.4170                      1.0125

TOTAL PURCHASE VALUE 815.4795

RPL                          10            1240          6.2                     0.6390                         1.55

TOTAL VALUE 1248.3890

But at the bottom of contract note there are stamp duty Rs 1.1 & other charges 0.41.. HOW do we account for Stamp duty & Other charges...how do we bifurcate...or just ignore them..this is in one contract note

FOR COMPUTATION OF CAPITAL GAIN .SIMILAR SHARE, STOCKS TO BE BOUGHT & SOLD. THERE IS RNRL & RPL SHARE PLEASE CLARIFY THE SAME . OR WHETHER THE SHARE ARE SOLD ON SAME DAY.  BIFURCATION OF STAMP DUTY ON BASIS OF PURCHASE VALUE EXCL OTHER CHARGES & DUTY

16.07.2009 to 30.09.2009  76 days  = 5000*7.05%*76/365=73

1.10.2009 to 31.12.2009    92 days = 5073*7.05%*92/365= 90

1.01.2010 to 31.03.2010    92 days = 5163*7.05%*92/365 = 91

                                                                                                  total =254

i got the details from the bank also....they have done like this

under cash basis rs.15000 is your income

under accrual basis - rs.40000 is your income.

that's all..

As per my knowledge u should show ur accured income in ur income tax return.

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