Fdr interest
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///
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
(Expert)
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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