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

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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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