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FIXED DEPOSITE MATURITY


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


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.


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