In case you earn any income from deposits with Banks, kindly disclose the said Interest Income by selecting the Income from Bank Interest option given in top menu bar in the wizard.
Select relevant type of income. Add total Interest earned on bank a/c in the Income column and enter expenses incurred for earning interest income in the expenses column (example - In case the money deposited in a bank, is borrowed from any organization, then the interest paid on such borrowings can be deducted from Interest income as expenditure).
In certain cases, Bank deducts tax on interest Income and issues Form 16A (TDS certificate) for the same. In such case, the client should put TDS deducted amount and other details like the Name of Deductor (i.e bank name as per Form 16A) Tan no. of Deductor in relevant columns.
Please put the amount of tax deducted amount in column “TDS Deducted” to claim the TDS credit for the current Financial year. Also note that, in case you insert TDS details in the Bank interest income screen, then you should not insert the same again in Tax Deducted at Source (TDS) screen, since the same is already entered by you.
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