E-Campaign - Overlap in High Value Transaciontion

Hey Tryaline! This kind of overlap in e-Campaign notices for FD interest is a pretty common issue. Here’s a way to approach your response:

What’s happening here:

• The bank reports the total interest payable for the entire FD period (Rs. 1,00,000) under “Total interest payable by a banking company (SPP)”.

• Simultaneously, the actual interest accrued or paid during the financial year (Rs. 66,000) is also reported under TDS Form 26Q, Section 194A.

• So the system is counting some interest twice—once as the full amount and once as the yearly portion.

How to respond on the e-Campaign portal:

• Clarify that Rs. 66,000 is the actual interest income for FY 19-20, which you have declared in your ITR.

• For the Rs. 1,00,000 reported under “Total interest payable by a banking company (SPP),” mention that this represents the total interest payable for the entire FD period (July 2018 to Dec 2019) and is not the interest income for a single financial year.

• Explain that due to the nature of the FD spanning multiple years, the total interest amount appears in multiple places in the bank’s reporting, causing the apparent duplication.

• State that you have correctly reported only the interest income related to FY 19-20 (Rs. 66,000) in your ITR and have paid tax accordingly.

Suggested option to select on portal:

• “Information is correct” — because the interest you reported is accurate for the specific financial year.

  • You can add remarks or explanation as above in the comments box if the portal allows.