Vineet Nitin Deshpande (Article Assistant) (71 Points)
22 June 2012Mr. X has Interest on FD As per 26AS are as follows:
Bank A : Interest Rs.100/- ; TDS Rs.10/-
Bank B : Interest Rs. 25/- ; TDS Rs. 0/- (NIL)
Mr. A wants to show only Rs. 100/- as his Income From Other Source & Not Rs. 125/-
Can This Possible & Right while Calculating Computation Sheet of Mr. X.
Please Reply............
It is Urgent....
Yogesh Shah
(Managing Corporate Finance)
(1051 Points)
Replied 23 June 2012
Hi Vineet ..
Answer to ur question can be given in only one line - ITS NEITHER POSSIBLE, NOR RIGHT.
For Info - Not only income which is reflected in 26AS but also other income (which is not reflected thereon) i.e. on which TDS not deducted, you will have to show. Whether tax is payable or not, how much deduction is there etc. etc. are later issues.
Ramesh kumar
(Article Assistant)
(123 Points)
Replied 23 June 2012
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