Poonawalla fincorp
Poonawalla fincorp

Fixed deposit

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16 August 2012 What is the accounting treatment of Fixed deposit & interest received therefrom????
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
16 August 2012 Interest Accrued on Fixed deposit is shown under other current or non current assets.
TDS is deducted at the time of accrual of interest on such FD.

Accounting entry;-


FD A/c Dr
To Bank A/c

Interest Accrued A/c Dr.
TDS receivable A/c Dr
To Interest Income

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