The Said scheme is given benefit to convert Double Amount.
suppose I deposited into the said scheme of Rs. 50000 on March 2015 . And get double in 8years 4 Months(100 Month) in July 2023. Now the Question is that
what amount will shown in Balance sheet Rs. 50000 or 50000 plus Accrued Income on 31.03.2020. If accrued income how much income to be shown in the BS
2 Replies
Sumit Shukla
(378 Points)
Replied 01 January 2021
You can ask for thr yearly statement and thereby consider accrued interest as well as the invested amount as an investment in balance sheet
ayusmita
(Tax consultant)
(5885 Points)
Replied 02 January 2021
As kvp if postal gives you yearly interest figure then add to your kvp and show as investment in balance sheet
if they don't gives you then just show the investment value through out all the years and at the time of maturity shows both Interest and investment value in balance sheet
if they don't gives you then just show the investment value through out all the years and at the time of maturity shows both Interest and investment value in balance sheet
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