accrued

This query is : Resolved

survesh (Querist)
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14 September 2010 FD created of Rs.3 crore is for 3 years and Interest Recd as on 31/3/2010 is Rs. 300,000.00 for 1 st year

Is this Interest said to be Accrued Or Direct Debit to FD and Cr Interest in PL Ac

What are the condition for Accrud Interest.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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14 September 2010 It is accured interest as interest has not been received.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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14 September 2010 Both is correct....

Yet to debit it to "Interest accrued but not recd" would be better.

If you support your entry with form 16 or interest certificate, it would be more appropriate.

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