Income tax on FD1
Shivanshu Gupta (13 Points)
28 December 2022
Fd created for 3 years. Interest will be received on maturity. Do I need to pay tax every year or on maturity financial year.
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(182273 Points)
Replied 28 December 2022
As bank will be declaring the interest amount every year, it is advisable to declare the accumulated interest amount by end of march every year in ITR.
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 28 December 2022
Interest should be declared in ITR based on accrual basis . Else you may get an sms and email from IT Dept
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