Income tax on FD1
Fd created for 3 years. Interest will be received on maturity. Do I need to pay tax every year or on maturity financial year.
Replies (2)
Quick Summary
As bank will be declaring the interest amount every year, it is advisable to declare the accumulated interest amount by end of march every year in ITR.
Interest should be declared in ITR based on accrual basis . Else you may get an sms and email from IT Dept
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