07 February 2011
Respected sir, I have got Muthukuvial Deposit in a Bank.it is in the name of the individual previously and later senior citizen is also joining the same account along with that individual,the interest received from that deposit account is at the rate which is offered to the senior citizen but the received interest is credited to the individuals account.
My Query is that what will be the treatment for this?
I require urgent reply please do reply me at the early............
07 February 2011
Deposit A/c will continue in 1st Individual Account if not broken down by bank, Interest rate not relevant. Interest seperately credited will be recorded individually
CAclubindia
