For salaried person return filing
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2014
Respected Experts,
I found most of the Salaried person file ITR based on Form 16 and Form 26AS but they not show their Bank FDR Interest or such other small income which middle class common pepole have it.
Is this such source hacinf effect any future consequence if yes? then what will such consequence? provided such middle class person falls under category of 10% slab of tax..
Please answer expected in elaborate...
I found most of the Salaried person file ITR based on Form 16 and Form 26AS but they not show their Bank FDR Interest or such other small income which middle class common pepole have it.
Is this such source hacinf effect any future consequence if yes? then what will such consequence? provided such middle class person falls under category of 10% slab of tax..
Please answer expected in elaborate...
31 July 2014
It is important to show every income whether it is exempted or not. In case of FDR interest if any TDS has been deducted it will show in 26AS and then it will be mandatory to show FDR interest to claim TDS in return. However if no TDS has been deducted by FDR interest has been earned then if it is not shown in return of income it will effect taxable income and tax liability.
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 October 2014
Thank You Sir For your Valuable Reply.
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