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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Selecting Tax Regime while for calculating tax relief on under Section89 of income tax act 1961.
- Cloud service
- Relief Calculation u/s 89 of ITax 1961 in TableA Form10E
- Applicability of RCM on Frieght Inward supplies received from un-registered person
- GST on Fresh Juice Center(Sugarcane)
- Sale of Gold ornaments
- GST ON FOREIGN CLIENT
- Can we issue an invoice today
- SALE OF GOODS FROM OTHER STATE
- Ca final exam registration may-26
- Expenses add back in profit
- Forgot to update debit note in gst
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
