How to account the interest earned on government grants for specific purposes, but presently parked in FD of bank.plz refer the relevant AS/IND AS
Menu
Interest earned on govt grants
Replies (1)
As per accounting standard -9 any income earned will be accounted as "interest income" under the head "Other Income".
There is no specific disclosure for the interest earned on government grants for specific purposes, but presently parked in FD of bank.
So you can account as Other income
Recent Topic
- Unable pay Self Assessment Tax - Netbanking and De
- Section 192 2(b) entry in IT return ITR 1
- Rent from redevelopment property
- How to find FMV of inherited gold after selling it
- Happy CA Day!!
- Share your proudest CA moment 🏆
- Gift recd from brother
- How to show Loan write off in DPT 3?
- Form 10E and Salary arrear
- LTCG U/S 54F. Sale of property plus sale of share
Related Topics
CAclubindia
