When method of accounting is Cash basis
When Interest on f.d will book...When interest accrued or recieve?...this income reflect in 26 A.S
FD interest Received is to be accounted.
5 Replies
Shakir Ravjani
(Student)
(192 Points)
Replied 25 June 2018
but what about Interest accrued and it is shown in 26 A.S..if it will not accounted than it will showing diffnce between 26 AS and books of accounts
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 25 June 2018
Show it in year of receipt.
If query will come from department inform them about cash accounting system.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 25 June 2018
| Originally posted by : Shakir Ravjani | ||
 |
but what about Interest accrued and it is shown in 26 A.S..if it will not accounted than it will showing diffnce between 26 AS and books of accounts |  |
You will show it Accrued With receivables mode/accounting
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