POSTED BY February 1, 2013 5:00 pm COMMENTS (3)ON
I have a few NCDs (Non Convertible debentures) which I plan to hold till maturity.
The interest is given yearly on 1st April but generally gets credited into bank account around 10th of April every year.
Now, when I get the interest on 10th April 2013 should I show this in my IT returns for FY 2012-2013 (AY 2013-2014) or in FY 2013-2014 (AY 2014-2015) ?
Note: The companies do not deduct any TDS while crediting interest even when the interest amount is nore than 10000 INR.