"Do the Right Thing...!!!"
128111 Points
Joined January 2015
Examples Rs. 10 Lakhs and Interest @ 10%
At/On Deposit (Payment) :
Dr. Fixed Deposit A/c No: 00001 - Rs. 10,00,000
Cr. Bank A/c - Rs. 10,00,000
If Interest Rs. 100000 and TDS Rs. 10000
Interest Entry (Journal):
Dr. Fixed Deposit A/c No: 00001 - Rs. 100000
Cr Interest on Fixed Deposit A/c - Rs. 100000
TDS Entry (Journal) :
Dr. TDS on Fixed Deposit A/c - 10000
Cr. Fixed Deposit A/c No: 00001 - Rs. 10000
Receipt Entry for Payment received as Interest (Receipt Entry) :
Cr. Fixed Deposit A/c No: 00001 - Rs. 90000
Dr. Bank A/c - Rs. 90000
In case any doubt for the above pls revert the same via...
>>> GOOD LUCK <<<