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Querist : Anonymous

Querist : Anonymous (Querist)

23 May 2014 Sir please tell me
what is the journal entry for receiving of Fixed Deposit with interest.

CA John Abraham Austin ACA

CA John Abraham Austin ACA (Expert)
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23 May 2014 The entry will be :

1. If TDS is there:

Bank Account A/c -Dr TOTAL AMT-TDS
TDS Receivable A/c -Dr TDS Amt

To. Fixed Deposit Amt as in the Bal Sheet
To. Interest of FD A/c Interest for the current period

2. If no TDS:

Bank Account A/c -Dr TOTAL AMT-TDS

To. Fixed Deposit Amt as in the Bal Sheet
To. Interest of FD A/c Interest for the current period

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Rupesh Jain

Rupesh Jain (Expert)
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23 May 2014 if you recd 109000 after tds (gross 100000+10000intt)

bank a/c 109000
TDS receivable a/c dr 1000
to FDR a/c 100000
to Intt recd. on FDR 10000

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