For Fixed Deposit, if we have FD interest realised, and FD interest accrued, how do we enter that data in ITR2, Schedule TDS in 18C?
Column 7 says "TDS of Current Fin Year"
Column 8 says "In own hands"
Can data in Column 7 and 8 be equal when interest was accrued but not received in own hands?
" Can data in Column 7 and 8 be equal when interest was accrued but not received in own hands?"
YES
Accrued interest should be reported in the ITR return this year, OR can acrrued interest be reported when the interest is actually realised in future in that future year return?
This year. (Explanation: Its accrued in this year to your FD account and will be received on maturity. Taxability of interest is on accrual basis)
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
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