Income from other sources can be shown in the return on cash basis or mercantile basis. I want to shown interest earned on fd on cash basis. and i m salaried employee. Is it possible.
Prateek Jotwani (student) (201 Points)
03 July 2011Income from other sources can be shown in the return on cash basis or mercantile basis. I want to shown interest earned on fd on cash basis. and i m salaried employee. Is it possible.
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 03 July 2011
interest on fd is always taxable on accrue basis
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