Difference in income shown in 26as and income earned statement from bank - which to report

Others 211 views 5 replies

The statement given by bank to me for interest earned on fixed deposits for the year 2018-19 and the income earned from deposits from this bank shows another (higher) figure which corroborates with form 16A obviously.

 

since the difference is quite a lot, I was wondering which figure would I be required to furnish in my returns

 

Thanks 

Replies (5)
Always take the higher figure as stated in the interest statement by the bank because it is inclusive of accrued interest which is excluded from form 26 AS . And while filing income tax returns income means which has been earned in previous year... it's realization is not necessary.
show higher figure as per bank and pay SA tax

Thanks

income from bank statement is to be taken
Highest to be taken into consideration. But at the same time, u can't offer less than 26AS.


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