Interest on fd
This query is : Resolved
P.S.Subbaraman
(Querist)
22 July 2013
Whether it is mandatory to disclose the interest aspect of FD even if it is not received by the Assessee, as he allows the same to be accrued along with principal ?Any case laws ?
CMA Ramesh Krishnan
(Expert)
22 July 2013
It is better to show the interest on accrual basis and claim tds deducted on that in yearly basis.
22 July 2013
For the sake of c laiming TDS credit its better to include the interest in income on accrual basis. You can take the interest amount as well as TDS as shown Form 16A given to you.
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