Fixed deposit

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Querist : Anonymous

Querist : Anonymous (Querist)

20 July 2015 what will be entry of interest received on reinvested fixed deposit

Amol S Joglekar

Amol S Joglekar (Expert)
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20 July 2015 please give the actual figures for a better clarity on the query.

entry for interest is same whether for reinvested or otherwise....if it is income..interest account is to be credited and if it is expenses, interest account is to be debited.

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2015 Ex: FD Amt is 1000 + Interest 100
total FD Amt 1100 and TDS on interest

DR FD A/C 90
DR TDS A/c 10
CR Interest on FD 100

IS it correct

Amol S Joglekar

Amol S Joglekar (Expert)
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23 July 2015 No. That will be far away from reality.

Please tell me why are using the word REINVESTED......i think that is creating confusion.

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