Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
is the interest earned is high? If not then no need to worry. So don't show it as a income while filing ITR.All other account (HDFC, SBI and India Post) interest are reported to AIS. I have to pay the tax on ICICI FD interest.
If ICICI has not reported it to AIS, Can I skip this under income other sources? 😊
As a Rule abiding citizen, You must report it during filling your ITR.Savings account interest earned is less than 10,000 for all 4 accounts combined.
FD interest earned is less than 40,000 but I think I will have to report it. It might be TDS exempt but it is not tax exempt I think. Correct me if I'm wrong.
So when I will fill the 80TTA deduction, should I include ICICI savings account interest or not? There will be mismatch with the AIS data and they might go hunting for that extra tax.
You are right. You need to disclose the savings account interest as well deposit interest. Savings account interest combined of all Banks is exempted upto 10k and no TDS on it.Savings account interest earned is less than 10,000 for all 4 accounts combined.
FD interest earned is less than 40,000 but I think I will have to report it. It might be TDS exempt but it is not tax exempt I think. Correct me if I'm wrong.
So when I will fill the 80TTA deduction, should I include ICICI savings account interest or not? There will be mismatch with the AIS data and they might go hunting for that extra tax.
ways to bypass?Today I read an article regarding this. The information in AIS is not updated for many people right now. For me also, many FD interest and other stuff is not showing.
That article headline was to pay taxes after 15 June, don't pay early taxes because some of the info is not updated and you might get in trouble later.
That was a paid article so only 4-5 lines were there for everyone to read. But there are ways to bypass this 😉
Article Link: https://www.livemint.com/money/pers...ax-returns-before-15-june-11686674063937.html
Right Click -> View Page Source -> Full content is present there. Just try to find the lines and copy paste in some text editor to read it properly.ways to bypass?
Yes. Some TDS would have already been deducted and rest you will have to pay.Guys i earned previous fy 60000₹ interest from RD , do i have to pay tax .. it's showing in my STF
So can I pay it now ? As i have not mentioned that in my itrYes. Some TDS would have already been deducted and rest you will have to pay.
Hey I am facing the exact same issue of my ICICI saving account's interest not getting updated even though it's just 470 rs but it should be declared for safety. So if I manually add in total interest then there will be a difference in AIS figures as AIS is not showing ICICI account. Can u plz provide me any guidance it has wasted my 3 days still i am stuck.All other account (HDFC, SBI and India Post) interest are reported to AIS. I have to pay the tax on ICICI FD interest.
If ICICI has not reported it to AIS, Can I skip this under income other sources? 😊
You can add it manuallyHey I am facing the exact same issue of my ICICI saving account's interest not getting updated even though it's just 470 rs but it should be declared for safety. So if I manually add in total interest then there will be a difference in AIS figures as AIS is not showing ICICI account. Can u plz provide me any guidance it has wasted my 3 days still i am stuck.
You should always show income in the return even if it's not showing in the AIS/TIS. If return income is more than AIS/TIS income then no problem, but if other way around then it might cause problem in future.Hey I am facing the exact same issue of my ICICI saving account's interest not getting updated even though it's just 470 rs but it should be declared for safety. So if I manually add in total interest then there will be a difference in AIS figures as AIS is not showing ICICI account. Can u plz provide me any guidance it has wasted my 3 days still i am stuck.
@ccgeek07 Thanks guys for your wonderful help, highly appreciate it.You should always show income in the return even if it's not showing in the AIS/TIS. If return income is more than AIS/TIS income then no problem, but if other way around then it might cause problem in future.