Interest on fixed deposit
This query is : Open
20 May 2016
Sir,
I have kept Fixed deposit in Govt bank and three four year i have renewed every year for one or two year.
and my period also between two financial year. i.e 2014-15 to 2015-16 and 2015-16 to 2016-16.
Please tell me how can i considered interest amount in my ITR return
example : 1)fixed amount Rs. 25000/- dated 18.05.2015 interest is Rs. 2000/- at the rate of 8% which is period 18.05.2015 to 18.05.2016 2) Rs. 20000/- dated 20.11.2015 interest is Rs. 1600/- at the rate of 8% which is period 20.11.2015 to 20.11.2016.like.
Shall i take full amount of interest Rs. total Rs. 3600/- whole year in financial year 2015-16 or bifurcated for the financial year 2015-16 and 2016-17.
Kindly solve my query.
I have kept Fixed deposit in Govt bank and three four year i have renewed every year for one or two year.
and my period also between two financial year. i.e 2014-15 to 2015-16 and 2015-16 to 2016-16.
Please tell me how can i considered interest amount in my ITR return
example : 1)fixed amount Rs. 25000/- dated 18.05.2015 interest is Rs. 2000/- at the rate of 8% which is period 18.05.2015 to 18.05.2016 2) Rs. 20000/- dated 20.11.2015 interest is Rs. 1600/- at the rate of 8% which is period 20.11.2015 to 20.11.2016.like.
Shall i take full amount of interest Rs. total Rs. 3600/- whole year in financial year 2015-16 or bifurcated for the financial year 2015-16 and 2016-17.
Kindly solve my query.
Gokul Sharma
(Expert)
20 May 2016
take the actual interest earned in each fy ..
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