4/26/2021 0 Comments Fixed Deposit Template Excel
I have a few fixed deposit accounts in India for which I need to calculate the interest in terms of US Dollars (as IRS taxes worldwide foreign income for US residents) and Indian rupees (so I can get a refund of the taxes in India or not pay taxes for NRE accounts as interest is tax free).Another complexity is that there are two kinds of fixed deposit accounts RIP (aka reinvestment accounts where the interest is compounded quarterly but paid at the end of the term) and FD (aka fixed deposit where the interest is deposited to another account quarterly).Either account type requires you pay the interest on an annual basis which is easy to calculate for FDs but not so much for RIPs.The interest for that term is shown in the last column (FDs will have same interest, RIP interest will change every term).
Fixed Deposit Template Excel Update Column WillOnce youve updated the Last updated column, the next update column will point to the minimum of (FD expiration, or the next quarterly term) so you know when this entry will next need to be updated. ![]() To determine foreign interest so I can pay taxes in US, Ill use 2013 Jan-March and 2013 Apr-Dec. There are a lot of formulae and the rows are different for FDRIPSavings bank interest so you dont want to overwrite the wrong cell. I use this spreadsheet myself so it has gone through more than a few iterations of fixes or feature additions and Im certain all calculations are correct but this basically absolves me from any mistakes that happen. To use this, click the link and make a copy of the spread sheet in your own Google account. If youd like to be notified when I make a change to the spread sheet, please fill this form.
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