Schedule tds2 of itr2

ITR Filing 2650 views 2 replies


  Dear Friends,
      I had an FD with my bank for Rs 100000 and bank has deducted TDS on that and the same is showing in 26AS statement for FY 2011-2012. TDS deducted for FY 2011-12 was Rs 800/- on interest paid by bank of Rs 8000/- (all rounded off figures).
      Now I broke the FD prematurely this FY year (2012-2013) and consequently the interest rate that was applied on my account was reduced and some penalty was applied. I basically have two questions on this scenario:
      
      a) Would I be correct to assume that this would have the affect of reducing my accrued interest for last FY 2011-12 on which bank had paid the TDS ? If this assumption is correct then question b follows
      
      b) Could someone guide me as to what should be filled in Schedule tds2 (columns -->> Financial year in which TDS is deducted, Total tax deducted, Amount out of (4) claimed for) and Schedule OS income (column I(b)-->> Interest, Gross) sections of form ITR2 based on above values (amount, TDS, etc). Also, it would helpful to know how to fill in case of both scenarios (accrual based on non-accrual based methods) of accounting here.
      
      Really Appreciate your help..
  Rgds
   \\RK

Replies (2)

As the amount involved is not creating material impact on the tax liability, for conveniency , Consider Interest as shown by Bank 

i.e. 8000, and TDS Rs 800.

.

Adjustment of penal interest, which will also going to be a small amount,  can be made against current year's interest income on FDR or against any other Interest Income. 

.

 

 

Thanks very much Bafna sir. I do understand I would have to pay tax. But what should I enter in the respective schedules per part (b) of my question above ?

Best Regards,

Rohit


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details