queries regarding fixed deposits and recurring deposits regarding taxation
If I have fixed deposit which is still not matured (It auto renews every 15 days,but interest of Rs 29 does accrues every 15 days and gets added to the main FD balance )So in this scenario will I have to add the interest accrued in the account but not paid to my annual income while filling return
In other word do we add interest accrued in the account but not paid to annual income in itr
, Do we have also have to show accrued interest in sb account while filling return regardless of it being below rs10000 . I understand that interest accrued on RD does not need to be shown in ITR and is not taxable
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Also do we pay tax on interest accrued in PPF account (i think the answer will be no )