Interest on delayed payment
This query is : Resolved
08 December 2009
hi friends
whenever supplier charges interest on delayed payments to buyer, correct treatment of it as operating income or non-operating income?
As per suggest correct opinion as per AS-9
whenever supplier charges interest on delayed payments to buyer, correct treatment of it as operating income or non-operating income?
As per suggest correct opinion as per AS-9
08 December 2009
It is non-operating income as the firm is not engaged in finance activities.
AS-9 says about only recognition of income and not the operating or non-operating income.
For operating and non-operating income; please refer AS-3 Cash Flow Statement.
Ca Surendra Rakhecha
Surat
AS-9 says about only recognition of income and not the operating or non-operating income.
For operating and non-operating income; please refer AS-3 Cash Flow Statement.
Ca Surendra Rakhecha
Surat
08 December 2009
Agre with expert
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
- REGARDING GST ON COMMERICIAL PROPERTY
- 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
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- 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
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
Trending Online Classes
CAclubindia
