Tds on fd interest
This query is : Resolved
04 January 2015
I have invested Rs.50000/- in Tax Saver Fixed Deposit in the FY 2013-14. The bank will not deduct TDS on interest accrued during the current financial year, since the interest accrued amount has not crossed the threshold limit. Is it necessary to include such interest accrued amount with my income and pay tax for it?
04 January 2015
You can consider it on accrual or receipt basis.
05 January 2015
it is upto you how you like to treat it, if you want's to treat on cash basis it will be taxable on the time of receipt.
However if you want to treat on accrual basis ask the bank for interest certificate.
further you can also refer the this discussion also.
https://www.caclubindia.com/experts/interest-on-fixed-deposit--1948044.asp
However if you want to treat on accrual basis ask the bank for interest certificate.
further you can also refer the this discussion also.
https://www.caclubindia.com/experts/interest-on-fixed-deposit--1948044.asp
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Gift of mutual fund units to daughter
- Under construction property in ITR
- PPF interest-As Exempt Income disclosure
- Reporting of STCG on Property in ITR
- Upload Level ValidationITR3Category of Defect B/D
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Building tax payment deduction in rental Income
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
