Originally posted by : Ashis
	Dear experts, I would like to know in which Financial Year the following transaction falls: In the bank statement I have this: Date: 1 April 2011, Descripttttion: Credit Interest Value Date: 31 March 2011 Deposit Amount: xxxx.xx Should I count the above deposit for the FY 2010-2011 or FY 2011-2012 ? Thank you.

This is the statement pattern of HDFC bank where they print such confussing statements, the date of credit should be taken in previous year, i.e 31-03-2011

31-03-2011

FY 2010-2011

Thank you very much!

FY 2010-2011

as per the ACCURAL BASIS of Companies Act, we have to include the all income & expenditure in books which relates to that year.

So, in ur query as per accural accounting the Interest of March 10 is to be credited in FY 2010-11 even if it is received in April 10.

fy 2010-11

FY 2010-11