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Interest earned on advance given to contractor for project

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(Querist)
15 January 2014 A contractor, who is executing a project, is given interest bearing advance. What should be the treatment of interest earned on such advance?

Would be grateful if some reference to Accounting Standard is available.
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CA Suraj Lakhotia

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CA Suraj Lakhotia (Querist)
29 January 2014 Can someone give an input to this? Would be great help.

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