Fdr entry

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 March 2015 i m working in school
if we put fdr in bank suppose
dt.01/04/2015 FD amt-10 Lac int.rate 9 % for 3 yrs period maturity dt.01/03/2018 so what is entry in f.y.2015-16
how to entered accrued int.in 2015-16
and what is entry on maturity date.

Devendra

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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20 March 2015 if int on fdr recieved on yearly basis
then u need to book intrest entry every for
9% on 10 lakhs = 90,000 for fy 2015-16 and 2016-17

Bank a/c...dr 90,000
to int on fd account 90,000
but wther income is recieved monthly or quarterly or on maturity u must say this.

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2015 int.received quarterly basis

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