Professional Documents
Culture Documents
500
11
1 January 2012
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NOTE; interest provision for tax purposes may be manually evaluated by reference March end figures.
TO ASCERTAIN THE INTEREST ACCRUALS FOR TAX PURPOSES, THE FD (MONTHLY DISCOUNTED) DEPOSIT SC
PLEASE READ THE FOLLOWING:
1. MAKE USE OF ONLINE/ATM USE OF OPENING DEPOSITS.
MOST BANKS ARE HAVING THIS FACILITY.
2.EVEN RD CAN BE OPENED ONLINE.
3.THE TAX LIABILITY IN CASE OF FD (REINVESTMENT SCHEME) IS A COMPLEX.
HENCE AN ALTERNATE SCHEDULE IS SUGGESTED:
1. DEPOSIT THE LUMPSUM AMOUNT IN FIXED DEPOSIT (MONTHLY DISCOUNTED) SCHEME FOR A PERIOD, say 60 mon
2. START AN RD ACCOUNT ON THE SAME DAY, FOR THE SAME PERIOD.
3. THE COMBINATION WILL FETCH THE MATURITY VALUE EQUAL TO FD (CUMULATIVE)
YOUR FD INT:
AMOUNT OF DEPOSIT
110000
INTEREST RATE
10.25
931.67
118067.55
2.
4. RD instalment will be taken care of by the monthly interest from next month onwards.
5.Surely, the TDS on FD interest will be debited from SB.
6.NOW THE COMBINATION OF FD AND RD WILL PAY YOU THE MATURITY VALUE OF FD CUMULATIVE.
7. THE INTEREST ON RD WILL NOT SUFFER TAX DEDUCTION, BUT THE INT SHOULD BE ACCOUNTED.
BUT THE ACCRUED INTEREST ON RD IS EASILY ASCERTAINABLE.
The combination value of FD deposit (monthly interest) and RD for the same period and intere
PROOF:
on 01/03/2012, Rs.130725, is deposited as FD monthly deposit scheme( discounted scheme) for 61 months.
The deposit matures for payment on 01/04/2017.
130725
76360
1000
208085
The maturity value of FD (cumulative) for Rs.130725 at 9.25% is, the same 208085.
FEATURES:
The TDS on FD interest on each monthly interest is obtained, from the day of deposit itself. .
The interest accrued on RD is not subjected to TDS.
The aggregate interest received will be easily arrived by looking at RD growth chart on the next
Prepared and presented by
v ramachandra shenoi: e mail address: veearess@gmail.com
INPUT
INPUT
INPUT
<<INPUT
<<INPUT
onth onwards.
ALUE OF FD CUMULATIVE.
T SHOULD BE ACCOUNTED.
PERIOD 60 MONTHS.
d RD for the same period and interest will be equal to the FD(cumulative value)
being for calculation purpose take the interest rate as the same, 9.25%
ress: veearess@gmail.com
y is found, neither
for any loss or
same period.
500
11
Jan-12
AMOUNT OF DEPOSIT
25000
INTEREST
10
Jan-12
MONTH
01/01/2012
01/02/2012
01/03/2012
01/04/2012
01/05/2012
01/06/2012
01/07/2012
01/08/2012
01/09/2012
01/10/2012
01/11/2012
01/12/2012
01/01/2013
01/02/2013
01/03/2013
01/04/2013
01/05/2013
01/06/2013
01/07/2013
01/08/2013
01/09/2013
01/10/2013
01/11/2013
01/12/2013
01/01/2014
01/02/2014
01/03/2014
01/04/2014
01/05/2014
01/06/2014
01/07/2014
01/08/2014
01/09/2014
01/10/2014
01/11/2014
01/12/2014
01/01/2015
01/02/2015
01/03/2015
01/04/2015
01/05/2015
01/06/2015
01/07/2015
01/08/2015
01/09/2015
01/10/2015
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
500
1000
1500
2000
2500
3000
3500
4000
4500
5000
5500
6000
6500
7000
7500
8000
8500
9000
9500
10000
10500
11000
11500
12000
12500
13000
13500
14000
14500
15000
15500
16000
16500
17000
17500
18000
18500
19000
19500
20000
20500
21000
21500
22000
22500
23000
interest
accrued
MATURITY VALUE
CUM GROWTH
4.54
13.67
27.42
45.83
68.96
96.84
129.51
167.02
209.42
256.74
309.03
366.34
428.72
496.20
568.84
646.67
729.76
818.15
911.88
1011.00
1115.56
1225.62
1341.22
1462.41
1589.24
1721.77
1860.04
2004.11
2154.03
2309.86
2471.64
2639.44
2813.30
2993.28
3179.44
3371.83
3570.51
3775.54
3986.97
4204.87
4429.28
4660.28
4897.92
5142.26
5393.36
5651.28
504.54
1013.67
1527.42
2045.83
2568.96
3096.84
3629.51
4167.02
4709.42
5256.74
5809.03
6366.34
6928.72
7496.20
8068.84
8646.67
9229.76
9818.15
10411.88
11011.00
11615.56
12225.62
12841.22
13462.41
14089.24
14721.77
15360.04
16004.11
16654.03
17309.86
17971.64
18639.44
19313.30
19993.28
20679.44
21371.83
22070.51
22775.54
23486.97
24204.87
24929.28
25660.28
26397.92
27142.26
27893.36
28651.28
01/11/2015
01/12/2015
01/01/2016
01/02/2016
01/03/2016
01/04/2016
01/05/2016
01/06/2016
01/07/2016
01/08/2016
01/09/2016
01/10/2016
01/11/2016
01/12/2016
01/01/2017
01/02/2017
01/03/2017
01/04/2017
01/05/2017
01/06/2017
01/07/2017
01/08/2017
01/09/2017
01/10/2017
01/11/2017
01/12/2017
01/01/2018
01/02/2018
01/03/2018
01/04/2018
01/05/2018
01/06/2018
01/07/2018
01/08/2018
01/09/2018
01/10/2018
01/11/2018
01/12/2018
01/01/2019
01/02/2019
01/03/2019
01/04/2019
01/05/2019
01/06/2019
01/07/2019
01/08/2019
01/09/2019
01/10/2019
01/11/2019
01/12/2019
01/01/2020
01/02/2020
01/03/2020
01/04/2020
01/05/2020
01/06/2020
01/07/2020
01/08/2020
01/09/2020
01/10/2020
01/11/2020
01/12/2020
01/01/2021
01/02/2021
01/03/2021
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
23500
24000
24500
25000
25500
26000
26500
27000
27500
28000
28500
29000
29500
30000
30500
31000
31500
32000
32500
33000
33500
34000
34500
35000
35500
36000
36500
37000
37500
38000
38500
39000
39500
40000
40500
41000
41500
42000
42500
43000
43500
44000
44500
45000
45500
46000
46500
47000
47500
48000
48500
49000
49500
50000
50500
51000
51500
52000
52500
53000
53500
54000
54500
55000
55500
5916.09
6187.84
6466.61
6752.45
7045.42
7345.60
7653.05
7967.84
8290.03
8619.68
8956.87
9301.67
9654.14
10014.35
10382.38
10758.29
11142.16
11534.06
11934.07
12342.24
12758.67
13183.42
13616.57
14058.20
14508.38
14967.19
15434.72
15911.03
16396.21
16890.34
17393.50
17905.77
18427.24
18957.99
19498.10
20047.66
20606.75
21175.46
21753.88
22342.10
22940.20
23548.28
24166.43
24794.73
25433.28
26082.17
26741.50
27411.36
28091.85
28783.06
29485.09
30198.04
30922.01
31657.10
32403.40
33161.03
33930.08
34710.66
35502.88
36306.83
37122.62
37950.37
38790.18
39642.16
40506.42
29416.09
30187.84
30966.61
31752.45
32545.42
33345.60
34153.05
34967.84
35790.03
36619.68
37456.87
38301.67
39154.14
40014.35
40882.38
41758.29
42642.16
43534.06
44434.07
45342.24
46258.67
47183.42
48116.57
49058.20
50008.38
50967.19
51934.72
52911.03
53896.21
54890.34
55893.50
56905.77
57927.24
58957.99
59998.10
61047.66
62106.75
63175.46
64253.88
65342.10
66440.20
67548.28
68666.43
69794.73
70933.28
72082.17
73241.50
74411.36
75591.85
76783.06
77985.09
79198.04
80422.01
81657.10
82903.40
84161.03
85430.08
86710.66
88002.88
89306.83
90622.62
91950.37
93290.18
94642.16
96006.42
01/04/2021
01/05/2021
01/06/2021
01/07/2021
01/08/2021
01/09/2021
01/10/2021
01/11/2021
01/12/2021
01/01/2022
112
113
114
115
116
117
118
119
120
500
500
500
500
500
500
500
500
500
56000
56500
57000
57500
58000
58500
59000
59500
60000
41383.08
42272.24
43174.02
44088.53
45015.89
45956.22
46909.63
47876.25
48856.18
97383.08
98772.24
100174.02
101588.53
103015.89
104456.22
105909.63
107376.25
108856.18
108856.18
mer : This is a free tool. All efforts have been made so that it can be of use to the maximum
ingSolutions.com nor the developer of the tool will be responsible for any loss or
it is assumed
that int is
accounted
on month end
the figure
against march
to be taken as
of 31st march.
the maturity
date of RD is
one month
after the
last installment
01/01/2012
2/1/2012
3/1/2012
4/1/2012
5/1/2012
6/1/2012
7/1/2012
8/1/2012
9/1/2012
10/1/2012
11/1/2012
12/1/2012
1/1/2013
2/1/2013
3/1/2013
4/1/2013
5/1/2013
6/1/2013
7/1/2013
8/1/2013
9/1/2013
10/1/2013
11/1/2013
12/1/2013
1/1/2014
2/1/2014
3/1/2014
4/1/2014
5/1/2014
6/1/2014
7/1/2014
8/1/2014
9/1/2014
10/1/2014
11/1/2014
12/1/2014
1/1/2015
2/1/2015
3/1/2015
4/1/2015
5/1/2015
6/1/2015
7/1/2015
8/1/2015
9/1/2015
10/1/2015
11/1/2015
12/1/2015
1/1/2016
2/1/2016
3/1/2016
4/1/2016
5/1/2016
6/1/2016
7/1/2016
8/1/2016
9/1/2016
10/1/2016
11/1/2016
12/1/2016
1/1/2017
2/1/2017
3/1/2017
4/1/2017
5/1/2017
6/1/2017
7/1/2017
8/1/2017
9/1/2017
10/1/2017
11/1/2017
12/1/2017
1/1/2018
2/1/2018
3/1/2018
4/1/2018
5/1/2018
6/1/2018
7/1/2018
8/1/2018
9/1/2018
10/1/2018
11/1/2018
12/1/2018
1/1/2019
2/1/2019
3/1/2019
4/1/2019
5/1/2019
6/1/2019
7/1/2019
8/1/2019
9/1/2019
10/1/2019
11/1/2019
12/1/2019
1/1/2020
2/1/2020
3/1/2020
4/1/2020
5/1/2020
6/1/2020
7/1/2020
8/1/2020
9/1/2020
10/1/2020
11/1/2020
12/1/2020
1/1/2021
2/1/2021
3/1/2021
4/1/2021
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
25000
36808.42
37112.64
37419.37
37728.64
38040.46
38354.85
38671.85
38991.47
39313.73
39638.65
39966.25
40296.57
40629.61
40965.41
41303.98
41645.35
41989.55
42336.58
42686.49
43039.28
43395.00
43753.65
44115.27
44479.87
44847.49
45218.15
45591.87
45968.68
46348.60
46731.67
47117.90
47507.32
47899.96
48295.84
48695.00
49097.46
49503.24
49912.38
50324.89
50740.82
51160.18
51583.02
52009.34
52439.19
52872.59
53309.57
53750.17
54194.41
54642.31
55093.92
55549.27
56008.37
56471.27
56938.00
57408.58
57883.05
58361.45
58843.80
59330.13
59820.48
60314.89
60813.38
61316.00
61822.76
62333.72
5/1/2021
6/1/2021
7/1/2021
8/1/2021
9/1/2021
10/1/2021
11/1/2021
12/1/2021
01/01/2012
112
113
114
115
116
117
118
119
120
25000
25000
25000
25000
25000
25000
25000
25000
25000
62848.90
63368.33
63892.06
64420.12
64952.54
65489.36
66030.62
66576.35
67126.60
M GROWTH CHART
interest accrued
206.62
414.95
625.00
836.79
1050.32
1265.63
1482.71
1701.58
1922.27
2144.77
2369.12
2595.32
2823.39
3053.35
3285.21
3518.98
3754.68
3992.34
4231.95
4473.55
4717.14
4962.75
5210.39
5460.07
5711.82
5965.65
6221.57
6479.62
6739.79
7002.11
7266.61
7533.28
7802.17
8073.27
8346.62
8622.22
8900.10
9180.28
9462.78
9747.61
10034.79
10324.35
10616.30
10910.66
11207.45
11506.70
11808.42
12112.64
12419.37
12728.64
13040.46
13354.85
13671.85
13991.47
14313.73
14638.65
14966.25
15296.57
15629.61
15965.41
16303.98
16645.35
16989.55
17336.58
17686.49
18039.28
18395.00
18753.65
19115.27
19479.87
19847.49
20218.15
20591.87
20968.68
21348.60
21731.67
22117.90
22507.32
22899.96
23295.84
23695.00
24097.46
24503.24
24912.38
25324.89
25740.82
26160.18
26583.02
27009.34
27439.19
27872.59
28309.57
28750.17
29194.41
29642.31
30093.92
30549.27
31008.37
31471.27
31938.00
32408.58
32883.05
33361.45
33843.80
34330.13
34820.48
35314.89
35813.38
36316.00
36822.76
37333.72
37848.90
38368.33
38892.06
39420.12
39952.54
40489.36
41030.62
41576.35
42126.60
0.0090838996 1.0090838996
0.0090838996 1.0182503164
0.0090838996
1.0275
504.54
509.13
513.75
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
518.42
523.13
527.88
532.67
537.51
542.39
547.32
552.29
557.31
562.37
567.48
572.64
577.84
583.09
588.38
593.73
599.12
604.56
610.06
615.60
621.19
626.83
632.53
638.27
644.07
649.92
655.83
661.78
667.79
673.86
679.98
686.16
692.39
698.68
705.03
711.43
717.90
724.42
731.00
737.64
744.34
751.10
757.92
764.81
771.75
778.77
1.0368337068
1.0462522001
1.05575625
1.0653466338
1.0750241356
1.0847895469
1.0946436662
1.1045872993
1.1146212594
1.124746367
1.13496345
1.145273344
1.1556768921
1.1661749449
1.176768361
1.1874580066
1.1982447559
1.2091294909
1.2201131018
1.2311964867
1.2423805519
1.2536662121
1.2650543901
1.2765460171
1.2881420329
1.2998433858
1.3116510326
1.3235659388
1.3355890789
1.347721436
1.3599640022
1.3723177786
1.3847837755
1.3973630122
1.4100565175
1.4228653293
1.4357904951
1.4488330717
1.4619941259
1.4752747337
1.4886759812
1.5021989643
1.5158447888
1.5296145707
1.5435094358
1.5575305205
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
0.0090838996
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