Total Income if TDS on accrued Interest!

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 April 2011 Sirs/Madams.
What would be the Income if the TDS on FD statement from bank states the accrued interest as 54000/-
and TDS on the accrued interest as 5400/-

1) Will the total income for last FY from bank Interest be calculated as 54,000/- (-) 5,400/- = 48,600/-
or as 54000/- only

2) Also if i do not deduct this TDS amount from the accrued interest now won't the total FD interest at maturity be minus the TDS the bank has deducted on accruels.

The Total Income calculation gets affected greatly if an incorrect calculation is done!

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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23 April 2011 INCOME WLD BE RS 54OOO

CA MANOJ GUPTA
JODHPUR
09828510543

Querist : Anonymous

Querist : Anonymous (Querist)

24 April 2011 If the Income is to be taken as 54000 then where will TDS be adjusted!
If I am not wrong then the Bank will at the time of maturity deduct the TDS amount so calculated from the total and I will have a big liability with all the accrued Interest! which I would have shown as income but which never came to me!!