interest income not shown return
This query is : Resolved
20 November 2010
That in a.y 2009-2010 the bank has been accrued interest on FDR and credit my account with 1.8 lac ( interest ) and deduct TDS from them. No TDS certificate issue to me. I have filed my return of income without showing that interest. Now assessing authority call me and wish to make addittion of that interest ammount.
I am business man and keeping accounts books. FDR stand in my books.
can I reply to assessing authority that i have paid tax on that interest on reciept of interest or should I agree for accured basis ???
That in a.y 2009-2010 the bank has been accrued interest on FDR and credit my account with 1.8 lac ( interest ) and deduct TDS from them. No TDS certificate issue to me. I have filed my return of income without showing that interest. Now assessing authority call me and wish to make addittion of that interest ammount.
I am business man and keeping accounts books. FDR stand in my books.
can I reply to assessing authority that i have paid tax on that interest on reciept of interest or should I agree for accured basis ???
20 November 2010
Interest income is concealed. Addition will sustain.
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