Overdue interest
This query is : Open
Arvind Kale
(Querist)
27 August 2020
my one fd mature on 22 April 2015. at that time it's Maturity Amount is 31391. Now on 20.08.2020 i Request my Bank to Renew Fd. As per RBI Rule i Get Interest at Saving Bank Rates. My Question is bank calculated interest as per Compound interest formula or by Simple Interest Formula. pl. Guide
31 August 2020
The bank would have calculated interest on yearly compound basis but might have credited the interest on quarterly basis.
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
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Employee secondment
- GSTR9 Annual Return
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Ito add credit side of bank
- Import of Capital Machine
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Closer of business and itc of capital goods
- Rent agreement of House of deceased person
- Capital gain on commercial property and investment in residential property
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
