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Journal entries for accrued interest

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.

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6 Replies

Rohan Rawat (job) (49 Points)
Replied 08 July 2018

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

1 Like

Jatin (Accountant) (3479 Points)
Replied 08 July 2018

Dr. Intetest recd on FDR
Dr. TDS on FDR

Cr. Interest Receivable from Bank

Prakash Gehani (Consultant & Teacher(Whatsapp 8718057907)) (1306 Points)
Replied 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

Deepak Palande (2 Points)
Replied 18 September 2020

If TDS already deducted from Current Account instead of accrued interest , what entry should I pass

M Venkat (CA finalist) (456 Points)
Replied 18 January 2021

Can Unrealised Interest can be reveresed in the the next year?

Ayush Lakhotia (43 Points)
Replied 18 May 2021

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

1 Like