Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

How to match form 26AS with interest income in the pre-filled return

Amit (Teacher) (56 Points)

07 July 2024

Hello,

I am trying to file ITR2 online.

The schedule "Income from Other Sources" is pre-filled with some interest income values. If I see details, it shows some amount under "Interest, Gross / From Savings Bank" and some under "Interest, Gross / From Deposits (Banks / Post Office / Co-operative Society)". The total amount is not matching with my interest income shown in Form 26AS (interest income in Form 26AS is much higher).

So my question is:

1. Can I get the details how the pre-filled return got these values?

2. Form 26AS has all the interest incomes arranged under the banks name. Is it possible to figure out which incomes are "Savings Bank interests" and which are "Deposit interests"?

Thanks in advance,

Reply
Follow
Share

2 Replies

CA Aakarsh Jain (CA) (10412 Points)
Replied 08 July 2024

1) You can take actual income values ignoring the pre-filled once.

2) 26AS will only show interest from deposits. For interest in saving banks, you can refer to AIS and TIS.

Upgrade to CAclubindia Pro. Subscribe Now!

Amit (Teacher) (56 Points)
Replied 08 July 2024

Thanks for the response.

What you suggested in 2), I have been doing that for all these years. I used to get the interest from my deposits from Form 26AS, and the interest from my savings from bank statements. But things have changed this year since I converted my accounts to NRO. This year's form 26AS contains interest income for both savings and deposits.

Now it is impossible for me to figure out what is the interest for my savings account, and what is for deposit account. Looks like I need to ask for TDS certificate from each bank individually.