Interest from term deposit
This query is : Resolved
23 August 2015
Dear Sir/Mam,
I have submitted my IT return of AY 2015-16 for 1st time.But actually by mistake did not showed my interest income from FD in Bank. Please reply whether IT dept may claim tax on it in future? or I ' ll be liable for penalty ?
23 August 2015
Since you have filed the return within due date it is advisable to file revised return u/s 139(5) by including the FD interest under other income and paying taxes, if any.
Prakash Kochar
(Expert)
30 August 2015
As you have submitted return before due date, you can revise return showing correct income.
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