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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