There is a FD interest threshold and I think currently it is 40000 for non-senior citizen and probably from next year this is going to change.
Now let's say interest is 50000. As part of this we will show this amount as income from other source and FD interest.
In this case when this amount place in ITR , it count this total amount as taxable. I may be wrong in my understanding.
if we count for 10% slab
50000 = 5000 TDS deduct
Or
50000 - 40000 ( Threshold) = 10000 = 1000 TDS deduct.
We can not just put 10000 as income from other source because it may create mismatch with 26AS and AIS.
What is exact rule for this ?
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