Forums
Back
Investment accounts July 2021
Accountancy
Investment 1: 8% Corporate Bond It is purchased on 1.6.21 and paid INR.48000 ans cum interest. On 30 September 2020 got interest on the same 36000*8/100*6/12 comes to 144000. Can I use the amount of interest paid on acquisition and received afterwards for reducing my cost of acquisition. And the balance 96000 rupees to Profit and loss account. Sir please tell me the logic. Is this working is only for As.13 or can I use this on doing investment chapter problems also
Answers (4)
Int paid on debentures Investment on debentures what was said by you not applicable as per my knowledge. Investment on shares ,when dividend recieved on purchased shares of that period ,that amt up to divided received cost of purchased of shares was reduced. Shares thes divided amt adjusted to cost of purchase. Not investment on debentures. int no dividend on debentures
Aswini Gorige
Int paid on debentures Investment on debentures what was said by you not applicable as per my knowledge. Investment on shares ,when dividend recieved on purchased shares of that period ,that amt up to divided received cost of purchased of shares was reduced. Shares thes divided amt adjusted to cost of purchase. Not investment on debentures. int no dividend on debentures
Even in case od debentures the amount pre acq int must be reduced from cost of acquisition
Sriram Somayajula Admin
Even in case od debentures the amount pre acq int must be reduced from cost of acquisition
Is such treatment required if interest paid on purchase as cum interest
Your Reply