Interest accured on fixed deposit
Querist : Anonymous
I am a retired person and I have deposited Rs. 80 Lakhs as a Fixed Deposit @ 8% p.a. but unfortunately I have not shown the interest accrued on the FD in my Income Tax Return.
Then what is the legal way to show that interest earned by my Fixed Deposit, is it mandatory to show in a accural basis or to pay tax after maturity.
What is the rule accural or pay tax on maturity.
Please tell me.
Querist : Anonymous
please explain
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