Menu
FDR interest calculation
how should one calculate the interest on FDR?
Replies (4)
When you receive the FDR, the maturity value is mentioned on it. Deduct the investment amount from maturity amount and you will get the interest.
Formula of Compound interest I. E PRN/100
Principal, Rate of interest, & No of years
Note that in some cases interest is compounded Quarterly, Half yearly or yearly
Principal, Rate of interest, & No of years
Note that in some cases interest is compounded Quarterly, Half yearly or yearly
what if the FDR is made in the month of September? After deducting the investment amount from maturity value i will get the interest for full period. but for the computation of income i need interest for 6 months only (oct-march).
Dear divide it by number of months for the total period and multiply by the required period.
Recent Topics :
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
- Claiming business re-imbursements while filing GST
- E-waybill 14 Digit Numbring
- Non filing of MGT-14 for MD appointment
- HUF AFFIDAVIT vs HUF DEED - REQUIREMENTS & STA
- Free Pre-Filing Tool to Match GSTR-3B vs GSTR-2B (
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
- Register on Income Tax as CA
Related Topics :
CAclubindia
