SFT-005 posted by bank in Form 26AS - Please suggest

56029 views 16 replies

My wife and myself are joint account holders with SBI bank. There were some FDs made with the bank and in both our form 26AS, SFT-005 for the same amount is reflected, Interest on these amounts are shown in my ITR. My wife income is much lower and than the amount of FDs made by myself in joint name. My question is that while filing ITR of my wife, shall I report these entries as duplicated for my spouse in AIS or shall I go ahead and file the ITR as is. Can this raise a query from IT dept later? So your valuable advice is very much appreciated. 

 

I am a retired person and 77 years old. I have FDs in 2-3 banks. Under sweep instructions above certain amount to bank, Accordingly, balance above Rs 15000 in saving bank is sweeped out from SB and multi option deposit (MOD) is opened at prevailing FD interest.During last FY 2022-23, Due to increase in FD interest,  MODS & FDs having lower interest were closed and a composite FD for entire amount opened on the same day in same branch. My queries are:

1) Whether the new FDs opened after closure of MODS/FDs WILL BE REFLECTED UNDER SFT-0005 IN 26AS and TIS/AIS. If it is reflected then it would be duplication of amount as earlier MODs/FDs have already been reflected.

2) If such duplication is made it will give a wrong picture. In such case, what is the remedy? Can I correct TIS? If so how?

I request the learned CAs to guide me the matter. Early response shall be highly appreciated.

Thanks, S Kumar

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details