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E-Compliance- Tax on Interest

This query is : Resolved 

05 May 2021 Client received E-Compliance notice for high value transaction for FY 2019-20 (AY 2020-21). The bank automatically renews the FD along with interest through sweeps account.
Q1: Is this a case of interest paid or interest accrued
Q2: if it is interest accrued, is it taxable


05 May 2021 This is a case of interest paid taxable.



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