kisan vikas patra
This query is : Resolved
27 January 2008
my client has investment of kisan vikas patra of rs 1 lac as on 1st april 2003..how much interest should i accrue for financial year 2006-07 (a.y-07-08)..give me the procedure..
27 January 2008
normally the interest rate is 8-9%, you can accrue accordingly.
pass the entry
Accrued interest Dr
Interest on Kisan Vikas patra Cr
calculate the full interest in the 5th year and adjust the same to Accrued interest account and balance charge as income
pass the entry
Accrued interest Dr
Interest on Kisan Vikas patra Cr
calculate the full interest in the 5th year and adjust the same to Accrued interest account and balance charge as income
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