Tax on interest
This query is : Resolved
23 April 2018
A paid B an amount towards refund of loan and interest from period Apr 17 to Mar 18. A Paid B the last installment (which comprised of interest in Apr 2018). B has not yet filed the return for FY 2017-18. B is an individual. B wants to know whether the payment made in Apr 2018 is to be included or not while computing tax for FY 2017-18.
23 April 2018
It is upto B to decide. Both methods are permissible. But the method selected
should be followed consistently.
should be followed consistently.
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