Which date take in books of accounts to book interest income
This query is : Resolved
02 February 2025
In accounting practices, interest income is typically recognized on an accrual basis. So, for booking interest income, use the value date for determining when interest becomes effective but recognize that accrued interest should be recorded based on the end of an accounting period.
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
- Commission from nepal
- FILLING OF 26QB FOR ONE SELLER AND 2 BUYERS-ONE BUYER REGISTERED AND OTHER ONE NOT REGISTERED
- Deemed rent on house property
- GST REGISTARTION FOR EVENT MANAGEMENT
- TDS Section 194T for earning of partner
- Exemptions u/s 54 on sale of property
- Search seizure
- SALE OF RESIDENTIAL HOUSE PROPERTY PURCHASE AN AGRICULTURAL LAND
- 60 days significance in defining a resident
- Clubbing of Wife's Income from FD Investments
- When and what entry to make of POST dated cheque (PDC)
- In GSTR 1 How to present
- Why expenses and Losses Dr and Income and profit cr in Profit and Loss account shown
- Is GST input can be claimed or RCM payable
- In which condition issue Bill of supply and Eway biil
- Please share Excel Tax calculator for salaried govt. Employees AY 205-26
- ITC comparison showing short fall in ITC claim
- ITC credit relationship
- TDS DEPOSIT IN WRONG TAN
- Facing Problem to file GSTR-3B
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert04 February 2025
CAclubindia
