If a trust earned accrued interest on deposits but not received in the bank account. Is that interest taxable for the trust? Since that interest not actually received in the bank trust cannot apply it towards objects of the trust.
Interest income is shown on 26AS.
2 Replies
Krishna
(Assistant)
(682 Points)
Replied 26 September 2023
Then it is taxable for the trust during the year of accrual ? Or taxable when the interest actually received & does not apply towards objects of the trust ?
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