savings bank interest

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CA FINAL
109 Points Joined December 2014
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
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On 20 June 2017 at 12:02 Report
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SEO Sai Gr. Hosp.
208625 Points Joined July 2016

AY 2016-17.

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On 20 June 2017 at 12:31
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Consultant and Accountant
41 Points Joined August 2014

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.

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On 20 June 2017 at 12:37
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Assistant Manager
541 Points Joined April 2009

Agree with Mr. Junaid 

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On 20 June 2017 at 20:51
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article assisant
2 Points Joined March 2010

It Depends on which method you follow. Whether you follow the accrual method or on actual basis. 

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On 24 June 2017 at 22:34


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