Interest from fdr
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 August 2016
Dear Sir,
in june 2015 i had made the FDR for 3 year i also submitted form 15G to bank but bank has not credited any ointerest in the same FY, please tell me do i need to ask the interest of 2015-16 from the bank and disclose the same in the return or it will be disclose combined after the maturity,
Regard
Karan
Expert : Anonymous
Expert :
Anonymous
(Expert)
02 September 2016
dear
there are two types of fdrs
1. interest is credited at regular intervals .
2. interest accumulates till end of period.
in both the cases the income is to be booked on accrual basis for the whole period.
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