Treatment for accrued interest on fdr read more at: http://
This query is : Resolved
Shashikant Vishwakarma
(Querist)
09 January 2014
Treatment for accrued interest on FDR pledge as security deposit with govt. dept
whether accrued interest on FD should be added to FD and then calculate the accrued interest for next year or on the principal amount only .......
whether accrued interest on FD should be added to FD and then calculate the accrued interest for next year or on the principal amount only .......
Nikhil Kaushik
(Expert)
09 January 2014
well check whether it is a compounding interest FD or simple interest...more often than not, it would compounding...
Shashikant Vishwakarma
(Querist)
10 January 2014
thanks ......
But, in lack of such information can i opt for the simple interest ......
But, in lack of such information can i opt for the simple interest ......
Nikhil Kaushik
(Expert)
10 January 2014
look at the FD certificate friend...it would provide the required details....I would assume compounded interest.
Shashikant Vishwakarma
(Querist)
10 January 2014
boss FD certies r with d clint & there are 24 diffrent fds with diffrnt amount, rate of return and diffrent dates.....
Nikhil Kaushik
(Expert)
10 January 2014
well that is something for you to work..thats the part of audit...
Shashikant Vishwakarma
(Querist)
10 January 2014
ok sir ji i will opt d CI ......
well thanks again for ur suggestions..
well thanks again for ur suggestions..
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