Bank audit
This query is : Resolved
07 April 2016
XYZ Bank charges interest on its Advances on 30.03.20XX and the account classification is done on 31.03.20XX (i.e Classification of NPA) and if account become NPA (i.e sub-standard on 31.03.20XX).
Whether to Reverse the Interest Credited in the account of the NPA (Sub-Standard.) on 31.03.2016.
Whether to Reverse the Interest Credited in the account of the NPA (Sub-Standard.) on 31.03.2016.
08 April 2016
If classification of account turns from Standard to Sub standard then what ever is the amount of unpaid interest (debited by the banks) needs to reverse as on the date o NPA. if not done then through MOC needs to reverse.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- Tds on building rent monthly
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
