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The Bank FD matured. The amount was Rs.500000, Interest was
Rs.25000, The TDS was 10%, What is Journal Entry for this.
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Answer Posted / sanjoy gharami
Bank / Cash A/c Dr. 522500/-
TDS Receivable A/c DR. 2500/-
To FD A/c Cr. 500000/-
To Interest Received A/c Cr. 25000/-
(Being Matured FD Amount transferred Cash / Bank A/c along
with Interest, TDS Deducted @ 10% thereon)
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