Question regarding fixed deposit
my father invested the fixed deposit for past 20 years (slowly he invest now the total amount is 30 lakhs) this year only TDS shown in IT department website. please let me know how to include the FDs while filing this year
Asked 3 years ago in Income Tax from Chennai, Tamil Nadu
You need to show the interest accrued this year and file the return and claim TDS. You need to check whether the income for past years is taxable or not, then we can suggest the rest.
You don't have to include FDs in return of Income but you offer income from FDs to tax and file return.
You can file IT return by offering the interest on FDRs and claim TDS. If there is tax liability, even after the TDS, you will have to pay. Otherwise, you will get refund of TDS in excess of your tax liability.
You can file your income tax return with the Income tax department mentioning the interest income and can claim the deduction available .
CA, New Delhi Area, India
Can i take the loan based on my sister/brother fixed deposit?
Asked 2 years ago