• TDS on FD interest

sir/madam,
1.     main ek govt employee hu meri annual gross income 8 lakh ke kareeb hai.

2.     3 saal pahle maine 5 lakh ki F.D. karvayi thi, ek saal ke liye joki auto-renewal pe hai (interest+   basic amount).

3.      har saal bank interest pe 10 % tds kaat leta hai. 

4.      ab chunki interest to mere account me actual me aata nahi hai, uski to nayi fd ban jaati hai, to mera sawal ye hai ki us interest amount ko ITR me "income from other sources" vale account me show karni hai ki nahi? kyunki meri income to 20% income tax slab me aati hai...
Asked 2 years ago in Income Tax from Rawatbhata, Rajasthan
Dear Sir,

Aapko interest amount ITR me show karna chaiye and us pe 20% SE tax pay krna chaiye.
Abhishek Dugar
CA, Mumbai
2944 Answers
125 Consultations

5.0 on 5.0

Dear Sir,

Aapko wo Interest ka amount ITR me show karna padega and uspe 20% Tax bhi pay karna hoga. Jaise ki aapne bata ki 10% TDS already cut ho jaata hai, to balance 10% aapko pay karna hoga.

Trust this clarifies your query. 

Please feel free to call/ get back in case of any further clarifications. 

Thanking You. 

Regards,
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP 
Rohit R Sharma
CA, Mumbai
2104 Answers
91 Consultations

5.0 on 5.0

Compulsory aap ko FD Interest other sources me show karna padega aur remaining 10% (as ur slab rate is 20%) of FD interest bharna padega.
Shyam Sunder Modani
CA, Hyderabad
1408 Answers
95 Consultations

5.0 on 5.0

Ask a Chartered Accountant

Get tax answers from top-rated CAs in 1 hour. It's quick, easy, and anonymous!
  Ask a CA