E-Compliance- Tax on Interest
This query is : Resolved
05 May 2021
Client received E-Compliance notice for high value transaction for FY 2019-20 (AY 2020-21). The bank automatically renews the FD along with interest through sweeps account.
Q1: Is this a case of interest paid or interest accrued
Q2: if it is interest accrued, is it taxable
Q1: Is this a case of interest paid or interest accrued
Q2: if it is interest accrued, is it taxable
05 May 2021
This is a case of interest paid taxable.
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