22 June 2010
Accured Income : Accured Income means income due during the Financial year, but not received. For example You made a FD for 2 year. FD will be matured after 2 year. You will recd interest with pricipal amount after 2 year.But interest is related to both year. Hence you have to shown at the end of 1st year, Interest accured but not recd = Interest related to such finanical year.
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