Hi Friends,
I have confusion on how to show FDR interest on Income tax return
is this compulsary to show on accured basis or we can show on receipt basis
please give me guide lines for this matter
thanks
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How To Show Interest
Replies (7)
you will have to show the interest on bank accounts on accrual basis
In bank they show only in receipt basis so what should i do
you can get the certificate from bank that how much interest is accrued during the year . on that basis you can file the return
so i have to compulsary show to accured interest
yes it is the procedures which should be followed
another thing if there is tds deducted on fdr interest and you don't file the interest as your income on accrual basis than there could be a notice for mismatch. rectify me if i am wrong
Agree wid aditya.. Ask d bank 2 issue u form 16A along wid TDS Report.. From dere u can get both accrued intt during d yr along wid tds
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