Tax Rules Clarify FD Interest, Accrued Amounts and TDS in India
Investors must report both earned interest of Rs. 125,394 and accrued interest of Rs. 24,188 from bank fixed deposits in FY 2024-25, despite Rs. 14,958.20 TDS deduction, tax experts say. Gold bond interest requires separate disclosure from savings account interest, which qualifies for up to Rs. 10,000 deduction under Section 80TTA.