23 January 2013
Can anyone guide me regarding 'Fixed deporsit Maturity entry' by considering the example.. Opening balance (1-4-12)of FD rs.250000 date of maturity 30-9-2012 maturity value rs.280000
23 January 2013
Opening Balance as on 1.4.2012 Rs.250000/- not mentioned whether only actual deposit amount or actual deposit plus interest accrued till 31.3.2012.
you need to check the same and pass the entries closing the FD account in your books on maturity date, difference between actual deposit & maturity will be treated as interest received
24 January 2013
Sir, thank you. 250000 is initial deposit on 1-4-12 date of maturity or withdrawal is 30-9-12 amount 280000. interest accrued is 30000. Forn 15h is not given to the bank hence TDS not reflected. so how should i pass entries on 1-10-12. ??
CAclubindia
