Interest of fd presented in next fy

As it is the income of the year 2011-12 ,show interest as income in the Financial year 2011-12 itself

Originally posted by : M.Varalakshmi
	As it is the income of the year 2011-12 ,show interest as income in the Financial year 2011-12 itself

Thanks Varalakshmi. I a just afraid that I dont take this item again in my next year returns. Is there any way I can avoid that while preparing my accounts.?

If you are following accrual basis of accounting,show fixed deposit interest as income in the Financial year 2011-12 itself both in the accounts and while filing of returns.

So further in the f/y 2012-13 it wont be income again as you have shown it as income in the F/y 2011-12 accounts.

Am I clear?