Bank interest statement for tax filing?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 July 2012
Hi,
Do banks issue any interest statement for the financial year to help file income tax?
Or I have to take the statement and dig out the interests that the bank has paid for each fixed deposit and saving, and add them myself?
I beleive that we have to show all interest income as taxable.....
Do banks issue any interest statement for the financial year to help file income tax?
Or I have to take the statement and dig out the interests that the bank has paid for each fixed deposit and saving, and add them myself?
I beleive that we have to show all interest income as taxable.....
CA PARAS BAFNA
(Expert)
15 July 2012
The certificate given by banks on request or follow-up requires " have a look"
.
It's your income which must reach you properly. You may start "digging Out" and inform bankers if they have not credited interest in any FD A/c. Also obtain TDS certificate (Form 16A) for Scrutiny as well as for obtaining tax credit.
.
Your belief is true. Interest income is taxable.
.
.
It's your income which must reach you properly. You may start "digging Out" and inform bankers if they have not credited interest in any FD A/c. Also obtain TDS certificate (Form 16A) for Scrutiny as well as for obtaining tax credit.
.
Your belief is true. Interest income is taxable.
.
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