Tds & salary return filing

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Prasant (Querist)
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12 June 2012 Greetings

I have a query regards to tax return filing in India

(1) From employer I have received Form.16
(2) I have personal FD and getting interest every month. I have paid tax for the same every month. Received TDS from bank as well.

My question is whether its mandatory to show TDS on interest also while filing annual return of Form-16 of my employer (salary returns)? Kindly advise.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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13 June 2012 You have to show the interest income and the TDS amount in the return.

Prasant

Prasant (Querist)
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14 June 2012 My employer income tax @25-30% -whereas- my FD interest tax paid was @10%.

So my question is; if i show interest-TDS on FD along with my employer Form16 in the same tax return; whether i may end up in giving additional amount ?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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14 June 2012 Since you fall in a higher tax bracket, showing FDR income will result in tax payable.

You will have to pay additional tax on the interest income.

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