Interest paid or interest accrual
This query is : Resolved
17 July 2016
MY BANK HAVE GIVEN FD INTEREST CERTIFICATE IT CONTAINING TWO TYPE OF INTEREST FIRST -INTEREST PAID RS. 55193 THAT I HAVE CREDIT MY SAVING ACOUNT
SECOND - INTEREST ACCRUAL RS. 4406
TOTAL = 55193+4406=59599
SO QUESTION ARISE THAT WHAT AMOUNT OF FD INTEREST SHOULD BE DECLERED IN INCOME TAX RETURN AS INTEREST INCOME FROM FD 55193 OR 59599
SECOND - INTEREST ACCRUAL RS. 4406
TOTAL = 55193+4406=59599
SO QUESTION ARISE THAT WHAT AMOUNT OF FD INTEREST SHOULD BE DECLERED IN INCOME TAX RETURN AS INTEREST INCOME FROM FD 55193 OR 59599
17 July 2016
You have to declare first one you have already received n bank has deducted the TDs on that one. If you check you 26as if bank has deducted the TDs in that you have to declare the second one also. Otherwise it's up to you wish to declare or not.but for the safer side it is good to declare.
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