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.
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Journal entries for accrued interest
Replies (6)
Quick Summary
https://www.caclubindia.com/experts/tds-on-accrued-interest-191098.asp
Dr. Intetest recd on FDR
Dr. TDS on FDR
Cr. Interest Receivable from Bank
Dr. TDS on FDR
Cr. Interest Receivable from Bank
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
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
If TDS already deducted from Current Account instead of accrued interest , what entry should I pass
Can Unrealised Interest can be reveresed in the the next year?
Interest received from Shivam 20000 per month how can I maintain his ledger in tally amount recived in account tell me a group also in which I should put? Please tell me this
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