Tax on accrued interest on bank fd
This query is : Resolved
20 August 2012
is there option to pay tax on cash basis or accrued basis
20 August 2012
Accrued Basis Only.
20 August 2012
Accrued basis only since the Bank deduct the TDS on accrual basis only and credit of TDS can be claimed in year for which the TDS is deducted.
20 August 2012
Even TDS Not Deducted by Bank, Say Less Than 10000 Interest, Then Also You Have to Book it as Accrued Basis Only.
No Concept of Cash Basis.
Read With Section 145.
Other Than Business Income.
No Concept of Cash Basis.
Read With Section 145.
Other Than Business Income.
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