Deduction made u/s 194a

1169 views 3 replies

My Form26AS for AY 2011-2012 shows TDS deposited u/s194A for Tata motors FD I purchased in 2009.

The tax was deducted at the rate of 10% of interest amount.

However, I have not received any interest in my bank account as I had chosen the "cumulative" plan.

My question : Do I have to show details of this TDS in ITR2 filing for AY 2011-2012. ? If yes, which part of ITR2 will reflect this information ?

 

Thanks,

Gaurav.

Replies (3)

Hi, In My opinion you must be getting one time amount on maturity and not the annual interest but in the income tax act we follow accrual concept and thus accrue every year and thus tax is brought into the picture , and therefore you need to show that amount of TDS deducted and you will also get the refund if your total income does not exceed maximum amount not chargeable to tax and at  the time of maturity amount received over investment will not be taxable .

Now , you have to show the amount of TDS deducted in the ITR -2  under the TDS sheet as given in excel sheet .

YES IT SHOULD BE SHOWN IN RETURN BECAUSE INTEREST IS TAXABLE ON ACCRUAL BASIS

Understood that I will show the tax under TDS sheet, but where should I show the income on which this tax is applied. Which schedule/ column in ITR2 should it go to ? 

Originally posted by : SHASHANK GOYAL

Hi, In My opinion you must be getting one time amount on maturity and not the annual interest but in the income tax act we follow accrual concept and thus accrue every year and thus tax is brought into the picture , and therefore you need to show that amount of TDS deducted and you will also get the refund if your total income does not exceed maximum amount not chargeable to tax and at  the time of maturity amount received over investment will not be taxable .

Now , you have to show the amount of TDS deducted in the ITR -2  under the TDS sheet as given in excel sheet .

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
24 June 2026
Chartered Accountant

CA Darshita Shah & Co

Nadiad

CA

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
16 June 2026
Sr. Associate / Assistant Manager | TAS / FDD

Boutique Investment Bank & Transaction Advisory Firm

Gurgaon

CA

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
24 June 2026
Chartered Accountant - GST & Direct Tax

APL

Mumbai

CA

View Details
Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details