E-Campaign - Overlap in High Value Transaciontion

Tryaline (XXX) (21 Points)

01 April 2021  

Dear Sir/Madam,

I'm in need to respond to e-Campaign notice for High Value Transacton. But the issue I see here is FD Interests are duplicated between "Total interest payable by a banking company (SPP)" and also in "Interest other than “Interest on Securities” received (TDS Form 26Q, Section 194A)".

Say I've FD for a period 18 Month, from July-2018 to maturity Dec-2019 for total interest of Rs.1Lakh, the Income Tax e-Campaign portal is reporting Rs.1,00,000 under "Total interest payable by a banking company (SPP)"Rs.66,000 (i.e. actual Insterest during FY19-20) under TDS Form 26Q, Section 194A. In this case Rs. 66,000 is the actual interest during the financial year and same has been accounted in ITR, but how should I report the Rs.1,00,000 reported under "Total interest payable by a banking company (SPP)", this 1 Lakh is the actual payment paid by bank at the time of maturity so confused how to report this e-Campaign.

Seeking the help of expoerts here.

Thanks in advance!