MATURITY VALUE CUM GROWTH CHART FOR RD AND FIXED DEPOSIT(CUMULATIVE) RD MATURITY CUM CHART INSTALLMENT 500 <<<< INPUT INTEREST 11 <<<< INPUT month/year of deposit 1 January 2012 <<<< INPUT FD - CUMULATIVE MATURITY VALUE CUM GROWTH CHART AMOUNT OF DEPOSIT 25000 <<<<< INPUT INTEREST 10 <<<< INPUT month and year of deposit 01 January 2012 <<<< INPUT NOTE; interest provision for tax purposes may be manually evaluated by reference CLICK HERE FOR THE CHARTS>>> Prepared and presented by v ramachandra shenoi: e mail address: [email protected] TO ASCERTAIN THE INTEREST ACCRUALS FOR TAX PURPOSES, THE FD (MONTHLY DISCOUNTED) 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 PERIO 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 <<INPUT INTEREST RATE 10.25 <<INPUT MONTHLY INT (DISCOUNTED) 931.67 AMOUNT OF FD FOR RS.1000 INT. 118067.55 IF YOU WISH TO DEPOSIT RS, 110000 PLUS IN FD (CUMULATIVE SCHEME). 1. ASCERTAIN THE MONTHLY INT VALUE FROM ABOVE INPUT: 2. DEPOSIT RS. 118068, SAY FOR 60 MONTHS AT 10.25% 3. THE INTEREST AMOUNT IS 1000. START AN RD FOR 1000 ON THE SAME DAY OF FD. 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. PLEASE EXAMINE THE FOLLOWING: MATURITY CUM GROWTH CHART'!
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INPUT10.251.0256251.00846972780.0084697278MATURITY VALUE CUM GROWTH CHARTFOR RD AND FIXED DEPOSIT(CUMULATIVE)Downloaded from AllBankingSolutions.comDeveloped by : Your Name and email addressv ramachandra shenoiRD MATURITY CUM CHARTemail address: [email protected]
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