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Should fd accrued interest included in my tax return (no tds deducted)

Kumar (Taxpayer) (21 Points)

19 August 2019

Hi,

I have a 1-year fixed deposit with quarterly payouts and no TDS was deducted in FY 2018-19. I downloaded the interest certificate for FY 2018-19 from my bank site. It mentions `accrued interest` for my FD along with `paid interest`.

In my ITR-1 filing for AY 2019-20, should I include the accrued interest or should I only show the paid interest under `Income from Other Sources`?

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2 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160342 Points)
Replied 19 August 2019

Better to include it in the same year of accrual, rather than declare it in the year of receipt.

NaviN (Consultant) (120 Points)
Replied 23 June 2022

This is a doubt I had too. I downloaded SBI's interest certificate FY2021-22. It shows interest in one column and accrued interest in another column. So when I declare this in the ITR, I have to declare the sum of interest and accrued interest, correct?