for which amt i should file IT return
This query is : Resolved
Vijay Satvara
(Querist)
08 November 2016
Dear sir,
suppose, i have invested 13 lakh in bank FD and i will receive double amt. i.e 26 lakh after 6 year.
assume i have no other income and i want to file IT return , how i show my income in return anf which amt.??
CA R SEETHARAMAN
(Expert)
08 November 2016
TDS will be deducted by the bank at 10% on interest accrued. Interest accrued will be your income for filing the return.
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Amol S Joglekar
(Expert)
08 November 2016
you can divide the income each year as per the rate of interest. (Interest calculators are available in market or you can ask for the yearly certificate from the bank)
The choice is yours whether to show the interest per year OR show entire amount of interest in the last year
The choice is yours whether to show the interest per year OR show entire amount of interest in the last year
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