i have interest on some FD around 15 lacks @ 10%, which i will get on maturity, should i show interest per annum or i should show on maturity in books of accounts as well as in income tax.
please suggest
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Recording of interest
Replies (2)
you can obtain detail of interest credited to your account from bank or if TDS is deducted or form 15G/H is submitted by you then such interest will also reflect in Form 26AS on incometax website.
you should show it per annum as the accumulated amount may be liable to tax at higher rate if you show the whole amount all together on maturity
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