Fixed deposit interest calculation
This query is : Resolved
24 November 2011
Sir,
Suppose I made FD on 02/oct/2011 for Rs.20000/- for 1 year @ 9.25% compunding quartely.
how to calculate interest on such FD on 31/03/2012 to check whether TDS is applicable or not
Pls give me formula and working caluclation its very urgent
Suppose I made FD on 02/oct/2011 for Rs.20000/- for 1 year @ 9.25% compunding quartely.
how to calculate interest on such FD on 31/03/2012 to check whether TDS is applicable or not
Pls give me formula and working caluclation its very urgent
24 November 2011
For Quarter 02/10/11 to 31/12/11
20000 X 9.25% X 91/365 = 461.23
For Quarter 01/01/12 to 31/03/12
20461.23 X 9.25% X 91/365 = 471.87
TDS will not apply
20000 X 9.25% X 91/365 = 461.23
For Quarter 01/01/12 to 31/03/12
20461.23 X 9.25% X 91/365 = 471.87
TDS will not apply
24 November 2011
I hope its clear now.
29 November 2011
In my above calculation .....the rate is 9.25% p.a
29 November 2011
In my above calculation .....the rate is 9.25% p.a
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