Hi,
I hold some cumulative interest fixed deposits with SBI. The interest accrued over a period of three years.
I calculated and reported the interest in my tax return every year. However, even though the accrued interest exceeded Rs 10000 each year, SBI did not report the interest to the IT department (so no entries in Form 26AS). No tax was deducted at source.
These fixed deposits matured in FY 2015-2016. SBI has reported the entire accrued interest in this year's Form 26AS and also deducted tax on the entire amount of accrued interest.
How do I inform the IT department that the interest in my Form 26AS is actually for a three-year period, and that I have already reported one third of this interest amount in FY 2014-2015 and another one-third in FY 2013-2014?
Thank You.
Rajeev
CAclubindia
