Itr on bank fd interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 July 2013
Hi,
I had a fixed deposit which has run for 3 financial year.
Finally It has matured on 3rd july 2013, and maturity amount has been credited in my account.
I have submitted 15 H every year as calculated accured interest+pension is below tax limit.
Now question is how much interest to be shown in ITR for Fy 2013-14 ,AY 2014-2015?
The whole interest i have received or the accrual interest for FY 2013-14 i.e interest accured from 1st april 2013 to 3rd july 2013 (On which whole matured amount credited in my bank account)?
I had a fixed deposit which has run for 3 financial year.
Finally It has matured on 3rd july 2013, and maturity amount has been credited in my account.
I have submitted 15 H every year as calculated accured interest+pension is below tax limit.
Now question is how much interest to be shown in ITR for Fy 2013-14 ,AY 2014-2015?
The whole interest i have received or the accrual interest for FY 2013-14 i.e interest accured from 1st april 2013 to 3rd july 2013 (On which whole matured amount credited in my bank account)?
CA PARAS BAFNA
(Expert)
18 July 2013
Query is silent about filing of return-
Situation-1-
----------
When No return has been filed earlier:
Show interest on Accrual Basis.
.
Situation-2-
----------
When Returns have been filed earlier
and no Interest Income has been shown :-
Show on receipt basis.
.
Query is silent about filing of return-
Situation-1-
----------
When No return has been filed earlier:
Show interest on Accrual Basis.
.
Situation-2-
----------
When Returns have been filed earlier
and no Interest Income has been shown :-
Show on receipt basis.
.
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