Tds on fd interest

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 October 2012 Hi,

TDS is not deducted from the FD interest less than Rs 10000. So we need to declare our FD interest income as TDS would not be deducted from the interest

CA Chandrasekaran.S.R

CA Chandrasekaran.S.R (Expert)
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21 October 2012 Yes ,you also need to disclose any other interest including that of savings a/c. W E F current F Y Rs 10000 being interest from savings bank a/c is exempt.

Rupesh

Rupesh (Expert)
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21 October 2012 Deduction of Tax at Source is not the basis of declaring income. Even if there is no TDS, if there is any income which is NOT EXEMPT, it should be declared in the return and included in Total Income.

So in your case, you have to file the return showing the interest as your income.