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How to calculate post office fixed deposit income for filing itr?

20 August 2019

I Opened an Fixed deposit on 20-07-2017 at Post Office for amount of 4 Lakhs at an Interest rate of 6.8%.

Now Fixed deposit has 8 months 10 days under FY 17-18 and 3 months 20 days under FY18-19.

Maturity was not Automatically, Instead i goto Post office on 26 March 2019 to Matured my FD. Interest earned was 27901 for FD period & 10,652 as 4% interest rate due to extended period.

Now My Question is, To File an ITR of FY18-19 How much income should i show? For the period of 3 months & 20 days with 10652 interest or The Whole amount which i got on 26-March-2019 i.e 27901+10652.

Note: Interest was Calculated quaterly and payable Yearly basis.

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3 Replies

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 20 August 2019

did you disclose your income from FD for 2017-18 and claim TDS. or did you get the whole of the interest for both the years in fy 2018-19. if yes then you need to show how whole interest rec'd for both the years

Kapadia Pravin (17249 Points)
Replied 20 August 2019

Actually you may consider interest for every completed year only. interest first year on 20.7.2018 and balance for period ending 26.3.2019.
Thus your entire interest is taxable in FY ending 31.3.2019 related to AY 2019-2020.

Yashveer Arya (3 Points)
Replied 21 August 2019

Originally posted by : Giridhar S Karandikar
	did you disclose your income from FD for 2017-18 and claim TDS. or did you get the whole of the interest for both the years in fy 2018-19. if yes then you need to show how whole interest rec'd for both the years

I got the interest of both the years at 26-03-2019 (as available in below attached image). Can you please elaborate the part "how whole interest received for both the years".

Attached File : 2890854 20190821001742 img 20190821 001636.jpg downloaded: 40 times