Income tax

I had Invested Rs 25000/- in Tata Capital Financial Services NCD on 06.03.2014 under cumulative option. Every financial year I gets interest certificate for the accrued interest about Rs. 3565/-.

This interest I am not getting in my bank account but it is accumulated in my Tata NCD account as I have opted for cumulative option.

This Rs 3565/- I had showed as an Income in my Income tax return in each last four financial year till date.

Now this NCD is matured an I got Rs. 41175/- on 05.03.2019.

My initial investment was Rs 25000/- and received Rs 41175/-.

Thus from 06.03.2014 to 05.03.2019 for five years I got interest of Rs 16175/-. (41175 - 25000 = 16175)

During previous four years I have showed interest income Rs. 3565/- every year in my income tax return.

Thus 3565 X 4 = 14260  Now total interest I got is 16175

Therefore 16175 - 14260 = 1915.

What I understand is that I have to show interest income of Rs 1915 in this financial year 2018-19 income tax return.

Is am I right ?

Then which interest income I have to show in my this year income tax return for F.Y.2018-19 (A.Y.2019-20)

Please advise. I am very much confused.

Being a technocrat, account is not my cup of tea, so I request you to please respond. 

Read more at: https://www.caclubindia.com/experts/tax-2731384.asp

Replies (1)

Your understanding is correct that you have to show interest income of Rs 1915 in this financial year 2018-19.

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 08 August 2026
Article Assistant

Sanath Sheshagiri & Co.

Bengaluru

CA Inter

View Details
Company
11 August 2026
Chartered Accountant

Aviv Global Pvt Ltd

Ahmedabad

CA

View Details
Company
18 August 2026
Audit Assistant - Remote / Work From Home

CA ANOOP P K & ASSOCIATES

Kozhikode

CA Inter

View Details
Company
19 August 2026
Chartered Accountant - Financial Consolidation & Reporting

Synergy Keystone

Mumbai

CA

View Details
Company
08 August 2026
International Corporate Tax Advisory

Shulke

Bengaluru

CA

View Details
Company
Featured 19 August 2026
Chartered Accountant

apricus india

Pune

CA

View Details
Company
ARTICLESHIP 17 August 2026
Article Assistant

Jain Ankit and Co

Gurgaon

CA Inter

View Details
Company
17 August 2026
Chartered Accountant with US GAAP Experience

Austin Med Solutions Pvt Ltd

Bengaluru

CA

View Details