Menu
Tax under icds
The company deposited Rs.15,00,000/- (cumulative basis) with bank for 5 years. whether interest accrued to be calculated for every year or interest received at time of maturity as the income of that year.
Replies (2)
Every yearly and offered for tax. (Banks deduct TDS every quarterly & report to ITD)
It is taxable on accrual bases. Ask your bank for FD statement.
Recent Threads
- Registration as deductor on traces site
- Rental Income from a Joint Holding property
- Itr 4 return filing question
- Whether GST applicable on Hardship Compensation pa
- ITC cannot be denied to Bona Fide Buyers for Suppl
- Unused ITC for Hotel after GST Change
- CA FINAL SPOM
- 44ad presumption of tax
- Friendly loan to blood relative?
- Tds penalty for in operative pans
Related Threads
CAclubindia
