The Bank FD matured. The amount was Rs.500000, Interest was
Rs.25000, The TDS was 10%, What is Journal Entry for this.

Answer Posted / robin goyal

Bank / Cash A/C ...... Dr. 5,22,500/-
T.D.S Receivable A/C ...... Dr. 2,500/-
To F.D A/C ....... 5,00,000/-
To Intt. A/C ..... 25,000/-

Is This Answer Correct ?    7 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

i had received an arrear 0f Rs.700000/- lacs for the period 1.1.2007 to 31.3.2010 and Rs.78000 for the period 1.4.2010 to 31.7.10 during aug'2010. my normal salary for 2010-11 is 400000/-. on what amount will my rent free house perquisite be calculated? i have also claimed rebate u/s 89 by distributing my arrear salary in previous years.

1756


how much tds deducate on hotel party arrange by company

1513


I am working in footwear company at Himachal Pradesh. we want to send raw material - (leather) for Job work our other branch. now my question is that will have we any permission taken from excise & sale tax deppt.

4256


what is limit of form "16" or "31",c-form & form "11" or 3b during the issued on one time.

2941


What is turnover limit for Auditing of Service Tax, VAT, Income Tax, Provident Fund, P. Tax and WCT? Please mail me at gautam_ch2 @ rediffmail.com or call me at 09831707812.

2818






Why service tax payable is not considered while calculating Wct Tds.

3759


what is the difference between tds tax code and tds tax type in sap fi

1319


What is the value of the Budget for 2009-10

1544


Dear Sir, We are running a security agency. Please suggest us Notification No.:15/2012 service Tax dated 17.03.12 which is effected from 01.07.12 Please suggest how to raise bill on our clients.

3306


Dear Experts, I need your help in deriving a formula for calculating three taxes with a combination of cumulative and inclusive tax. Here are the examples with expected result. Please let me know the formula on how to get the given result. Example1: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and there is no cumulative of Tax1, Tax2 Expected Results are: Tax1=76.34 Tax2=83.97 Tax3=76.34 Let me know formula to derive above values? Example2: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and cumulative of Tax2 Expected Results are: Tax1=75.70 Tax2=83.27 Tax3=84.03 Please let me know formula to derive above values? Thanks in advance.

1280


WCT charged on firm or on proprietor?

1163


What is means by Central Excise ? How to calculate Central Excise ? Central Excise form No. is ?

1774


Dear Sir, we have purchased Poly Covers ( 360mm x 560mm)for raw material use.This Input vat claim it or not ?

1830


What is Excise duty? What is Edu Cess & Sec Edu Cess? Why and when it is applicable? What is Excise Claiming?

3981


how much TDS required in telecommunication services ? Any types of Telecommunication, provider or services receiver

1496