Fdr interest

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 September 2016 is it need to calculated interest on Cumulative basis or not?? if we take FDR for 6 months 3months in previous year is it we need to calculated interest for 3 months??

and

if FDR for 5 year we have Tax saver at the time also need to calculated interest on cumulative basis??

please answer us///

Amol S Joglekar

Amol S Joglekar (Expert)
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09 September 2016 it will depend upon the accounting system followed by the assessee. The choice is with the assessee whether to go by CASH system or ACCRUAL system

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