Interest Income Accrues Only on Specified Date in Agreement, Not Before, as Supported by Case Law. https://www.taxtmi.com/highlights?id=67782 Accrual of income - Income from interest on securities - When an instrument or an agreement stipulates interest to be payable at specified date, interest does not accrue to the holder thereof on any date prior thereto. Interest would accrue or arise only on the date specified in the instrument. - HC en-us Wed, 18 Jan 2023 13:11:20 +0530 Wed, 18 Jan 2023 13:11:20 +0530 TaxTMI RSS Generator Interest Income Accrues Only on Specified Date in Agreement, Not Before, as Supported by Case Law. https://www.taxtmi.com/highlights?id=67782 Accrual of income - Income from interest on securities - When an instrument or an agreement stipulates interest to be payable at specified date, interest does not accrue to the holder thereof on any date prior thereto. Interest would accrue or arise only on the date specified in the instrument. - HC Highlights Income Tax Wed, 18 Jan 2023 13:11:20 +0530 https://www.taxtmi.com/highlights?id=67782