Respected all members
I have filed my f.y.2018-19 return but not taken fd amount 300000
now f.y.2019-20 how to accounting for this previous year fd account.
5 Replies
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 19 August 2020
You have to disclose interest on Fixed deposit as income from others sources in income tax return, Not invested amount of Fixed deposit.
Himanshu
(Student CA Final )
(114 Points)
Replied 20 August 2020
First check your 26 AS if any TDS has been deducted on the interest credited by the bank . TDS if any has been deducted will be shown u/s 194A in the 26 AS statement.
Consider Interest from FDR as other sources income.and claim TDS if any.
Revise the Return as date has been extended and last date to file for AY 19-20 to 30/09/2020.
Consider Interest from FDR as other sources income.and claim TDS if any.
Revise the Return as date has been extended and last date to file for AY 19-20 to 30/09/2020.
Kamlesh Tolani
(accountant)
(563 Points)
Replied 20 August 2020
Sir interest already taken but fd principle amount not taken
Himanshu
(Student CA Final )
(114 Points)
Replied 20 August 2020
Only FD Interest is subject to taxation not principal.
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