Income tax implications for inheriting fixed deposits ( FDs) after father’s death

Income tax implications for inheriting fixed deposits ( FDs) after father’s death

My father had a few bank-fixed deposits and passed away in July 2024. He did not write any will. I am the nominee for all the fixed deposits he holds. Since my father had no tax liability, he used to give Form 15H, so no TDS has been deducted in the past. I want to … Read more

Income tax return (ITR) filing 2024: How to show accrued interest on bank fixed deposits (FDs)?

Income tax return (ITR) filing 2024: How to show accrued interest on bank fixed deposits (FDs)?

The interest certificate received from the bank for Fixed deposits indicates interest in two categories for the Financial Year 2023-24. Interest credited to the savings account during F. Y. 2023-24 and Accrued interest on FD but not credited to savings account since FD is not matured in a subject financial year. Till last year F. … Read more