Miscellaneous Income
This head generally includes following items of income:
(a) rental income from bank’s properties;
(b) security charges;
(c) insurance charges recoverable from customers;
(d) Other income from carrying out other services like selling of gold coins etc.
The auditor can ascertain whether any premises or part thereof is let out, and, if, so, whether rent recoveries are recorded upto the year-end at the rates as applicable. The auditor may verify various items of miscellaneous income in the same manner as in the case of other entities.
The Notes and Instructions for compilation of profit and loss account, issued by the Reserve Bank, require that in case any item under this head exceeds one per cent of the total income, particulars thereof may be given in the notes.