Bank has not deducted TDS u/s 194A , but the same is appearing in IT return. WE have paid Income tax on salary income of Rs.14000/-. Do we have to pay tax on Bank Interest separately?
1 Replies
Shloka Madhavan
(Teacher)
(301 Points)
Replied 17 July 2019
Yes, interest accrual is taxable, even though it my not have been received in bank account.
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