When method of accounting is Cash basis
When Interest on f.d will book...When interest accrued or recieve?...this income reflect in 26 A.S
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Interest on F.D
Replies (5)
FD interest Received is to be accounted.
but what about Interest accrued and it is shown in 26 A.S..if it will not accounted than it will showing diffnce between 26 AS and books of accounts
Show it in year of receipt.
If query will come from department inform them about cash accounting system.
| Originally posted by : Shakir Ravjani | ||
 |
but what about Interest accrued and it is shown in 26 A.S..if it will not accounted than it will showing diffnce between 26 AS and books of accounts |  |
You will show it Accrued With receivables mode/accounting
WHEN ACTUALLY RECEIVE
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