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Tds on interest

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 June 2012 Hi, How to account for Tds deducted on accrued interest by bank ? kindly tell me the journal entry. WOuld it be:-

Interest Accrued Dr.(Whole amt)
TDS Dr.
To interest rcvd ( Net amt)

kindly correct me
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CA Navin Jain

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CA Navin Jain (Expert)
11 June 2012 YOU ARE CORRECT
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Querist : Anonymous

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Querist : Anonymous (Querist)
11 June 2012 thanks sir
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Querist : Anonymous

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Querist : Anonymous (Querist)
11 June 2012 How to account if we have prematured FD and received interest in the following days
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
11 June 2012 Bank A/c Dr
TDS Receivable A/c Dr
To Interest

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