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Interest on securities

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 March 2013 if a security is purchased on 1 dec 2012 and due date is 1 may every yr with yr ending on 31 march every yr y is it that no income for yr ending 31.3 ? ideally on accrual concept it is accrued even though not due
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
26 March 2013 Yes. Interest accrual need to make till 31.3 for books closing even not due also

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