J S BHAVSAR (CONSULTING) (1288 Points)
22 May 2017For Fixed Deposit, if we have FD interest realised, and FD interest accrued, how do we enter that data in ITR2, Schedule TDS in 18C?
Column 7 says "TDS of Current Fin Year"
Column 8 says "In own hands"
Can data in Column 7 and 8 be equal when interest was accrued but not received in own hands?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(179906 Points)
Replied 22 May 2017
" Can data in Column 7 and 8 be equal when interest was accrued but not received in own hands?"
YES
J S BHAVSAR
(CONSULTING)
(1288 Points)
Replied 23 May 2017
Accrued interest should be reported in the ITR return this year, OR can acrrued interest be reported when the interest is actually realised in future in that future year return?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(179906 Points)
Replied 23 May 2017
This year. (Explanation: Its accrued in this year to your FD account and will be received on maturity. Taxability of interest is on accrual basis)
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