Dear sir
I have FD and RD in icici bank on which there is accrued interest income of 46000 but no TDS deduced.do I need to show this in ITR .I am a sr citizen.
NO
Omnarayan Prasad (37 Points)
13 May 2019
Vineet Agrawal
(40 Points)
Replied 13 May 2019
Prerna Siddhu
(other)
(291 Points)
Replied 13 May 2019
The interest need to be declared in ITR and offered to tax, under head IFOS.
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 13 May 2019
Yes, you must show in ITR
RAJA P M
("Do the Right Thing...!!!")
(128047 Points)
Replied 13 May 2019
KACHAM SHEKHAR
(PROPRIETOR)
(49 Points)
Replied 14 May 2019
You have an option to declare your on accrual basis or cash basis. It is advisable to declare your on accrual basis as you are a senior citizen and eligible for deduction of interest up to Rs. 50,000.00 under section 80TTB. Therefore, declare the income on accrual basis and claim the deduction u/s 80TTB.
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