Penal interest on fd
This query is : Resolved
07 June 2014
How to accounted penal interest on fd .bank has reduced the said amount in interest and credited in the bank . but they are showing full amount in 26AS .
means
Interest on fd amount 64000
penal interest 4000
credited in bank 60000
but in 26 as showing full 64000
how will i show this entry in books of accounts
Please help me out
means
Interest on fd amount 64000
penal interest 4000
credited in bank 60000
but in 26 as showing full 64000
how will i show this entry in books of accounts
Please help me out
07 June 2014
bank a/c 60,000
penal int on FD a/c 4,000
to int on FD a/c 64,000
penal int on FD a/c 4,000
to int on FD a/c 64,000
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