How to calculate bank interest annually .....(help)
Shailendra (Accountant) (97 Points)
10 February 2012
Shailendra (Accountant) (97 Points)
10 February 2012
CA Suraj Lakhotia
(IndigoLearn)
(4898 Points)
Replied 10 February 2012
Banks calculate interest on daily balances in your savings bank account and credit the same to your account periodically.
Shailendra
(Accountant)
(97 Points)
Replied 10 February 2012
Harsh
(Finance)
(55 Points)
Replied 13 February 2012
Interest calculation rate is different as per respective bank. So we can not say its formula, as CA Suraj Lakhotia said bank interest calculated on daily balances in our saving bank account so it will obviously differ for bank and its account.
Shailendra
(Accountant)
(97 Points)
Replied 13 February 2012
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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