FeedBack of SFT transaction.

This query is : Resolved

rmalhotra (Querist)
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09 July 2024 Sir,
A resident Individual is having RD a/c of post office. During tenure of RD a/c he was reporting accrued interest of RD on estimated basis in his Yearly ITRs. But Post office does not credit RD a/c on yearly basis as per its practice and also does not deduct TDS.. It credits the total interest amount only at the time of maturity of RD a/c. That is the point of mismatch..
While preparing ITR of closing year of RDa/c, when individual noticed this mismatch, he reported in the " Feed Back" of interest amount which he had already shown on estimated accrual basis in ITRs of earlier years on year-wise basis respectively as " Relates to earlier years " to reconcile the total interest in the last year of maturity of RD a/c.
But when this feed back was forwarded by AIS utility of ITax Dept to PO , it has replied back by PO that "Feed back is incorrect.."

Hence the following queries :-

1. Is individual right with reporting of accrued intt of PO- RD a/c on yearly basis and then balance of interest in the last year of maturity of RD ?

2.Will he face any problem when source i.e. PO has reported that "Feed back is incorrect" ??

3.Can he still file ITR as per his scheme i.e. " Total Interest Rs 8 Lacs - Accrued interest already reported Rs 6.10 lacs " with net interest of Rs 1.90 lac for year of closing of a/c on maturity i.e FY 2023-24 even after negative reply from PO " Source", ???

4. Can he write in description of ITR at relevant column, that he had already reported portion of Accrued Interest to extant Rs 6.10 Lacs in earlier relevant years. ????

Pls guide on above.