Bank has not deducted TDS u/s 194A , but the same is appearing in IT return. WE have paid Income tax on salary income of Rs.14000/-. Do we have to pay tax on Bank Interest separately?
Anil Doshi (GM) (159 Points)
17 July 2019Bank has not deducted TDS u/s 194A , but the same is appearing in IT return. WE have paid Income tax on salary income of Rs.14000/-. Do we have to pay tax on Bank Interest separately?
Shloka Madhavan
(Teacher)
(301 Points)
Replied 17 July 2019
Yes, interest accrual is taxable, even though it my not have been received in bank account.
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