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(Querist)
22 March 2010 What is the treatment of Principal amount & interest at the time of receipt?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
22 March 2010 Interest is taxable. Please see clause 15 of the CBDT notification 203/2006, dated 28-7-2006.
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
22 March 2010 agreed
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CA Pramod Jain

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CA Pramod Jain (Expert)
22 March 2010 interest is taxable on accrual basis
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
22 March 2010 agree

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