https://www.taxtmi.com/highlights?id=50426 Accrual of interest - Non recognising interest against the advance - assessee is a company and following mercantile assessment of accounting - the interest accrues and arises as on the last day of the previous year in which the assessee’s accounts are closed. Once the interest is accrued, it has to be charged to tax. en-us Thu, 28 Nov 2019 13:33:02 +0530 Thu, 28 Nov 2019 13:33:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=50426 Accrual of interest - Non recognising interest against the advance - assessee is a company and following mercantile assessment of accounting - the interest accrues and arises as on the last day of the previous year in which the assessee’s accounts are closed. Once the interest is accrued, it has to be charged to tax. Highlights Income Tax Thu, 28 Nov 2019 13:33:02 +0530 https://www.taxtmi.com/highlights?id=50426