How to find total Interest Earned from FDs?
Hi folks, I am filing ITR and I find complete mismatch between the IT portal data of FD interest earning, and my Banks’ data. I checked all the forms- Form 26AS, AIS/TIS, traces portal. But none of them match with Banks’ data. What should I do? For one Bank, the interest amount is highly undervalued, and for the other Bank, it seems highly overvalued. Any quick way to find? Which should be considered the definitive record of interest earned?
Watsay49
Stealth
a year ago
FD interest= Interest earned and paid that FY + Interest accrued but not paid yet
Download interest certificate from Bank. It will match with AIS
Yes, but I downloaded one Bank’s. It shows 36K interest, but in AIS, for that Bank it shows just Rs 4K. So for that Bank, AIS has missed accounting one Bank’s interest.
For 2nd Bank, the Bank doesn’t give option to download interest certificate, it gives option to download TDS statement for every quarter. I downloaded that from app, it downloads only for 4th quarter- it gives me Bank’s Form16, showing interest of 24K, but the AIS shows much more than that. For a third bank, it perfectly matches. Two Banks data is mismatching. I think it might be due to Bank’s issue, but I don’t know which data to go by.
3-4 yrs back, I had blindly gone by Form 26AS, and filled ITR as per that. IT folks accepted that, approved that, but later sent notice about missing income in ITR. Apparently they caught extra interest earned in AIS, and asked me to go check it and confirm or deny it. So an interest of 30K, since no TDS was charged, never got entry into Form 26AS, but got entry into AIS. I had no idea of AIS at that time, since it was recently launched then. These guys have made it so confusing🙁
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AliveYouth71
Stealth
a year ago
I need to know this too
