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Tds

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(Querist)
02 February 2016 As per tds certificate there is minute point difference of Rs. 0.68 in one quarter . Thus not tallying as per the certificate. What should be done? Also, There is penalty for pre mature fd, what will be the entry for that in tally?
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
02 February 2016 Difference you can book Round OFF , Regarding Premature FD you can consider under bank chgs.
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riddhi

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riddhi (Querist)
03 February 2016 but the penalty has not been included in bank account so cant take bank charges. the entry which i have passed is int on fd xxx
to fd xxx
I am thinking to dedeuct that penalty amount from interest on fd for which tds is deducted. Is it correct?
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riddhi

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riddhi (Querist)
03 February 2016 what is entry for penalty on fd?
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
03 February 2016 no you cannot reduce penalty from Interest Income , You can boo bank Charges and close books
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