FD's for more than one year
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 February 2011
for FD's for more than one year , do we need to get statement (so call form 16A) of interest accrual on these fd's for each financial year from respective bank as interest that would different as compounded quarterly.
02 February 2011
It would help you to compute your income and also to know if any TDS is deducted. It is surely helpful to have a statement / Form 16A from the Bank
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02 February 2011
In Form 16A details of Interest is given on which TDS has been deducted by bank.
Due to compounding of interest in every quarter, interest amount varies.
In case in your calculation and in bank's calculation , if there is a slight difference, adopt bank's calculation in your tax returns.
Due to compounding of interest in every quarter, interest amount varies.
In case in your calculation and in bank's calculation , if there is a slight difference, adopt bank's calculation in your tax returns.
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Guest
Guest
(Expert)
02 February 2011
Agree with Mr. Bafna
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