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savings bank interest
if interest is capitalised in 31st march 16 in bank accnt but received in 01.04.17..so in which year i have to recognise it
Replies (4)
AY 2016-17.
Dear Friend,
It has to be recognised in the FY 2015-16, it is irrelevant when to receive, as Income is going to be recognised on accrual basis.
Agree with Mr. Junaid
It Depends on which method you follow. Whether you follow the accrual method or on actual basis.
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