Fixed deposit for 13 month ( in november 2012)

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bunty shaw (Querist)
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03 December 2012 sir a private ltd company invested rs 1000000 in fixed deposit in bank for 13 th month. after maturity the amount the company get on fixed deposit is rs 10,95,000. can u tell me the entry in accounts in this year and also in next financial year ... the date of fixed is in NOVEMBER 2012. and maturity completed in december 2013 . what is entry in books of accounts rate of interest is 8.75%.pls assist...

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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03 December 2012 1. Investment
Fixed Deposit A/c Dr
To Bank

2. On 31st March

Accrued Interest A/c Dr
TDS Receivable 12-13 A/c Dr
To Interest
(Obtain a TDS certificate from the bank which will contain the amount of interest and TDS)

3. At the time of maturity
Bank A/c Dr
TDS Receivable 13-14 A/c Dr
To Accrued Interest
To Interest
To Fixed Deposit A/c

bunty shaw

bunty shaw (Querist)
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03 December 2012 can u do this journal entry with figures .

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Fixed deposit for 13 month ( in november 2012)

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