RECEIPT OF INTEREST ON DEBENTURES

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..... RECEIPT OF INTEREST ON DEBENTURES
Query (Issue) Started By: - S.C. WADHWA Dated:- 18-6-2012 Last Reply Date:- 11-7-2012 Income Tax
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Income Tax
A company made an investment in d .....

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..... ebentures on which interest is received after deduction of tds. Interest is received for period from 01/01/12 to 31/03/12 but same is received on 05/06/12. Now, I want to know whether same should be .....

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..... accounted on receipt basis in financial year 2012-13 or same should be booked first on mercantile basis in financial year 2011-12 and then book receipt of interest recoverable in financial year 2012- .....

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..... 13. Reply By Naresh Rinwa: The Reply: It has to be booked as per mercantile basis and it should be shown as interest receivable. and compute the income tax accordingly.
Discussion Forum - Knowle .....

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..... dge Sharing .....

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