Query
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 May 2012
Dear Sir/Madam,
I have made 5 FDs (each Rs. 4 lakhs) in Apr 2008 and have auto-sweep facility in my SBI account which gives interest every year. The bank provides Form 16A. Till now I have not shown it in my ITR thinking that 10% is already deducted and paid to IT department. I have enchased one FD in Jan 2009. Now I have to fill ITR for 2011-2012.
How can i show previous interest income to avoid any future penalty by the tax department? I shall be highly grateful for help in this regard.
Regards,
G. Kumar
I have made 5 FDs (each Rs. 4 lakhs) in Apr 2008 and have auto-sweep facility in my SBI account which gives interest every year. The bank provides Form 16A. Till now I have not shown it in my ITR thinking that 10% is already deducted and paid to IT department. I have enchased one FD in Jan 2009. Now I have to fill ITR for 2011-2012.
How can i show previous interest income to avoid any future penalty by the tax department? I shall be highly grateful for help in this regard.
Regards,
G. Kumar
CA PARAS BAFNA
(Expert)
03 May 2012
The Source from which you got money can be questioned. You must consult a tax expert for filing your returns
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