Issue with TDS on FD interest

I am having FD for which the bank has already deducted 10% TDS. My tax slab is 10% itself, which means that I am not supposed to pay anything more. Hence, at the time of IT filing, I didn't mention anything about FD. Is it right? Or am I supposed to mention the interest and the TDS paid? If yes, then please tell me how to go about it as I have already done IT filing.

asked Jul 15 '11 at 17:54 by Rakhi 1112


You don't have to pay more tax on bank interest but same has to be declared in income tax return.

Show income from bank interest under section income from other sources and TDS deducted by bank, under TDS section (as per details in Form 16A issued by bank).

In case you already filed return, you will have to file a revised return.

answered Jul 18 '11 at 16:59 by pankaj 5.2k320

link

Know someone who can answer? Share a link to this question via email, twitter , or facebook
.

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text](http://url.com/ "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported

Tags:

×777
×240
×48
×25

Asked: Jul 15 '11 at 17:54

Seen: 2,902 times

Last updated: Jul 18 '11 at 16:59