Fixed deposit interest calculation

This query is : Resolved

seeta (Querist)
Follow

24 November 2011 Sir,
Suppose I made FD on 02/oct/2011 for Rs.20000/- for 1 year @ 9.25% compunding quartely.

how to calculate interest on such FD on 31/03/2012 to check whether TDS is applicable or not

Pls give me formula and working caluclation its very urgent

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
Follow

24 November 2011 For Quarter 02/10/11 to 31/12/11
20000 X 9.25% X 91/365 = 461.23

For Quarter 01/01/12 to 31/03/12
20461.23 X 9.25% X 91/365 = 471.87

TDS will not apply

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
Follow

24 November 2011 I hope its clear now.

Upgrade to CAclubindia Pro. Subscribe Now!

seeta

seeta (Querist)
Follow

29 November 2011 Sir Rate 9.25% p.a. then

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
Follow

29 November 2011 In my above calculation .....the rate is 9.25% p.a

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
Follow