In case of Over Draft Account with a scheduled bank, how do we ascertain whether the interest charged by the bank has been paid or not?(since there will be deposit and withdrawal and we can not really attribute the deposit to the payment of interest)
28 June 2010
In case of Overdraft a/c , as soon as when bank has charged interest in account, then they are debiting your account i.e it will be shown withdrawl side. ie. overdraft use is increased. i.e they are recovered interest from your account.
29 June 2010
When our bank A/c account has positive balance then, debit can be treated as payment, but when OD a/c has negetive balance, then can we treat debit of interest charges to our od a/c as "payment"? Will not it be an addition to already existing loan. hence expanation 3c to 43B attracted?
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