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Journal entries for accrued interest

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7 Points Posted on 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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On 08 July 2018 at 20:02 Report
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Quick Summary
Accrued interest on FDR is recorded at year-end by recognizing interest income and corresponding receivable. TDS, if applicable, is recorded as asset. Entry depends on whether bank has deducted TDS or not; interest is accrued even if not received.

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job
49 Points Posted on 08 July 2018
https://www.caclubindia.com/experts/tds-on-accrued-interest-191098.asp
1 Reply
On 08 July 2018 at 20:22
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Accountant
3479 Points Posted on 08 July 2018
Dr. Intetest recd on FDR
Dr. TDS on FDR

Cr. Interest Receivable from Bank
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On 08 July 2018 at 20:25
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Consultant & Teacher(Whatsapp 8718057907
1306 Points Posted on 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
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On 05 August 2018 at 09:55
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2 Points Posted on 18 September 2020

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

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On 18 September 2020 at 14:28
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CA finalist
456 Points Posted on 18 January 2021

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

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On 18 January 2021 at 13:09
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43 Points Posted on 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

 

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On 18 May 2021 at 14:54


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