Co. op. hsg. soc. accounts / accrued interest

Kunal Shah (Proprietor) (70 Points)

12 May 2013  

This is for Co. Op. Hsg. Soc.

The Society has made 1 FD of Rs.25 Lacs with Private Bank. The FD is for 3 years, and cumulative interest. So interest isn't paid to the society actually.

In this case will the accrued interest show in the income and expensiture statement of the society?
And also it will have to be added to the FD amount on the asset side?

And how is tds treated in this case?

 

Sincerely yours, Kunal.