ABC Ltd made an fd of Rs.179005 @ 9.25% p.a on 19-7-2012. maturity value is 235510.. then how would i calculate interest accrued for A.Y 2012-13.
CA BINIT SHAH
(ERP Consultant & Tax Consultant)
(411 Points)
Replied 30 April 2013
most of the banks provide the accrued interest details on their internet banking site. And the accrued interest calculation is simple:
(FD amount * Interest percentage) / (365or360) * (the number of days from which the FD was made).
CAclubindia
