Journal entries for accrued interest

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Ravi Dasar 08 July 2018

FDR amount 2,00,000, TDS @ 10%, FDR rates 8% simple interest PA.

FD Period1-Oct-2017 to 30-Sep-2023

Please pass journal for accrued interest on 31-3 - 2018.

Aditi Kaur (Practising CA) 08 July 2018

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Rohan Rawat (job) 08 July 2018

https://www.caclubindia.com/experts/tds-on-accrued-interest-191098.asp

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Jatin (Accountant) 08 July 2018

Dr. Intetest recd on FDR
Dr. TDS on FDR

Cr. Interest Receivable from Bank

Prakash Gehani (Consultant & Teacher(Whatsapp 8718057907)) 05 August 2018

For FY 2017-18

Accrued Int dr 7200
TDS dr 800
To Interest Income 8000

Beacuse Interest amt is less than 10000 therefore it is possibility that TDS is not deducted by bank in that case entry will be:
Accrued Interest dr 8000
To Interest Income 8000