Interest booked in nbfc

This discussion clarifies the accounting treatment and TDS implications for interest booked by listed NBFCs, particularly when interest is payable half-yearly or yearly. It highlights the need to disclose interest income in GSTR-1 and GSTR-3B based on the payment frequency. Furthermore, it confirms that booking interest income in financial statements triggers the obligation for Tax Deducted at Source (TDS) under the Income Tax Act.