If FD of 2,00,000 is opened for 4 years at 5.4% and payout is selected at maturity. Then interest is paid after 4 years of completion and given on date of maturity or auto credited to bank account.
Question is on 1st year , interest is carry forwarded with principal as it is paid on maturity. then after 31st march, will there be any tax on interest that is applicable for paying tax because interest is not given on this year only on 4th year ? will bank deduct TDS on this as form 15 H is not applicable due to more than basic slab.
similary 2nd,3rd year interest will it be shown in ITR or it is not taxable income as interest is paid on maturity.