Interest on fd
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 July 2013
Dear Sir,
Suppose FD was taken in July 2012 and the period of FD is 15 months. That mean fd will be mature in fy 2013-14.
1. In the above case whether the assessee has to show accrued interest from July 12 to march 13, in his IT return for the fy 2012-13.
or
He can show the whole interest in the return of FY 2013-14.
Please clarify.
Suppose FD was taken in July 2012 and the period of FD is 15 months. That mean fd will be mature in fy 2013-14.
1. In the above case whether the assessee has to show accrued interest from July 12 to march 13, in his IT return for the fy 2012-13.
or
He can show the whole interest in the return of FY 2013-14.
Please clarify.
CA PARAS BAFNA
(Expert)
04 July 2013
It is advisable to show interest on accrual basis. Interest from July 12 to March 13 can be shown. If there is any TDS on interest he can get credit for the same.
.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Oct 2025 Invoices
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Capitalgain tax purposes for valuation report compulsory
- Import of Software Service.
- TAX AUDIT ON PROFESSIONAL INCOME
- Under marginal scheme
- GST on Renting godown to KFCSC for Storage of Raagi
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Capital Gail Exemption Certificate
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
