INCOME RECEIVED FROM BANK FIXED DEPOSIT . TDS HAS TO BE DEDUCTED @ 10% OF THE INTEREST INCOME . PLEASE LET ME KNOW WHETHER THIS INCOME AFTER DEDUCTING TDS HAS TO BE INCLUDED IN THE OTHER SOURCES HEAD AND CHAREGABLE TO DIRECT TAX AND THEN TAX ACCORDINGLY AS PER THE ASSESSEE STATUS.
Gross Interest (i.e Inclusive of TDS) is included in the Head Income from Other Sources.
Eg Interest Earned 10,000/- (Gross)
TDS Deducted Rs 1,000/-
Net Income 9,000/-
While Compution Total Income Gross Income Will be included.
HI MR ANOOP IS RIGHT INCOME SHOULD BE SHOW IN GROSS AND THERE AFTER YOU CAN TAKE DEDUCTION OF TDS DEDUCTED.
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
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RBSM Corporate Advisors Private Limited
Pune
CA
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PARV & Co.
New Delhi
CA Inter
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Anupam Parashar & Co.
Ghaziabad
CA Final
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CCI
Pro
CAclubindia
