28 July 2016
My doubt is accrued interest, one of my client he got interest from 01-04-2015 to 09-03-2016 Rs 231741 and also he got accrued interest from 10-03-2016 to 31-03-2016 Rs 14276, total interest Rs 246017. in house property calculation should i take accrued interest or not for IT computation?
29 July 2016
Interest is taxable under the head "Income from other sources". So entire interest earned or accrued shall be required to be disclosed in ITR under the column"other sources". For further clarification, you may write to info@wealth4india.com or call @9266242424 OR Logon to www.wealth4india.com.
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