https://www.taxtmi.com/article/detailed?id=6388 Interest paid upfront on debentures is deductible in the year of accrual and payment under the mercantile basis where the debenture holder validly elects and receives upfront interest; the issuer's accounting treatment spreading that cost by the matching principle does not preclude tax allowance when the contractual terms and factual payment establish accrual. en-us Tue, 18 Aug 2015 06:46:02 +0530 Tue, 18 Aug 2015 06:46:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6388 Interest paid upfront on debentures is deductible in the year of accrual and payment under the mercantile basis where the debenture holder validly elects and receives upfront interest; the issuer's accounting treatment spreading that cost by the matching principle does not preclude tax allowance when the contractual terms and factual payment establish accrual. Articles Income Tax Tue, 18 Aug 2015 06:46:02 +0530 https://www.taxtmi.com/article/detailed?id=6388