Please enlight ther treatment of interest accrued on loans issued by cooperative banks.
1) Whether accrued interst can be tken to Profit and whether it will attact t income tax
2) what is the treatement if it is non performing
Menu
Income taz treatment of accrued interest on loans of co-ops
Replies (1)
you have to take interest as income from other source....yes it will attract income tax. If it is a non-performing still charge it on accrual base. and make necessary entry for NPA IN B/S
Recent Topic
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
- INCOME FROM CLOSING OF NSS -1992 -EXEMPT UNDER W
- GPF AND COMMUTED PENSION RECEIVED
- How do I choose the correct trademark class? Can I
- Error in totalling salary amount in AIS
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
Related Topics
CAclubindia
