Enty for tds

When FD Opened with bank pass entry:

FD A/c Dr. 50000

           To Bank A/c 50000

When Interest Received pass entry:

Bank A/c Dr. 5500

TDS Receivable Dr. 500

            To Interest Received on FD A/c 6000

Entry for interest on FD and TDS

FD A/c                       Dr. 5500

TDS Credit A/c         Dr.   500

             To Interest Received on FD A/c             6000

Originally posted by : CA BARKHA MITTAL
	When FD Opened with bank pass entry: FD A/c Dr. 50000            To Bank A/c 50000 When Interest Received pass entry: Bank A/c Dr. 5500 TDS Receivable Dr. 500             To Interest Received on FD A/c 6000

totally agreed with this answer..

Jishnu Surendan is correct, when Interest gets added to FD.  Since it is not credited to your bank a/c.

No offence to the professionals, but interest on FD will never be credited to your bank account, otherwise instructed. For instance, the maturity value of a 5 year Rs. 5,00,000 FD will be Rs. 5,00,000 plus the interest compounded annually or semi - annually.