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Accounts quarry..........

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 May 2014 Sir please tell me
what is the journal entry for receiving of Fixed Deposit with interest.
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CA John Abraham Austin ACA

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CA John Abraham Austin ACA (Expert)
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

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Rupesh Jain (Expert)
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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