FIXED DEPOSITE MATURITY
This query is : Open
chetan singhania
(Querist)
29 September 2020
SIR HOW TO PASS AND SET OFF JURNAL ENTRY OF FIXED DEPOSITE AMOUNT RECEIVED ON MATUIRTY?
SEPPOSE I HAVE AN FD OF RS 100000 FOR 5 YEARS @8%
I SHOW INTEREST ACCURED EVERY YEAR AS MY INCOME
SUPPOSE ON MATURITY I RECEIVED TOTAL AMOUNT 1250000
KINDLY EXPLAIN ACCOUNTING TREATMENT WITH TDS
SEPPOSE I HAVE AN FD OF RS 100000 FOR 5 YEARS @8%
I SHOW INTEREST ACCURED EVERY YEAR AS MY INCOME
SUPPOSE ON MATURITY I RECEIVED TOTAL AMOUNT 1250000
KINDLY EXPLAIN ACCOUNTING TREATMENT WITH TDS
CA Kushwanth AVSR
(Expert)
29 September 2020
Can you check your question once.?
You had invested Rs. 1,00,000
But on maturity you received Rs. 12,50,000/- in 5 years time.
I assume it to be Rs. 1,25,000/- but interest @ 8% is not tallying with this amount.
You had invested Rs. 1,00,000
But on maturity you received Rs. 12,50,000/- in 5 years time.
I assume it to be Rs. 1,25,000/- but interest @ 8% is not tallying with this amount.
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