Difference in interest paid and accrued || CA Sumit Sharma
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Difference in interest paid and accrued || CA Sumit Sharma
simple interest
compound interest
interest
finance
annual percentage rate
interest paid and accrued
interest paid
simple interest
interest
difference of simple and compound interest
difference between compound interest and simple interest
simple interest and compound interest
difference between compound interest and simple interest problems
difference between compound interest & simple interest
difference between simple interest & compound interest
what is compound interest
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Sir fd ka paid interest and accrual interest dono ko jodkar 26as or ais me show ho rha and sailry jodne se 30 parsent salab me aa rhe h kya accrual interest ko es sal n jodkar next year me add kar sakte hai
Very nice explanation with real example. Quite impressive.
Thank you
Sir
This video is very knowledgeable and important.
Glad to hear
Thank you
एक अच्छी जानकारी के लिए धन्यवाद। 🙏🙏🙏🙏
Thank you
Very informative video. Thank you.
Glad it was helpful!
This time one more option come in sbi interest certificate i.e Excess interest recovered what is the accounting entry for this i think we have to deduct this amount from total interest received
Elaborative demo...thnx sir
Most welcome
Thanks
Welcome
THANK YOU SIR
Most welcome
Good Video. In case our Tax Liability is on the Higher side we can choose Paid interest over Accrued Interest ?
Yes
But not less than showing in ais tis
Your videos really help me a lot understand ITR better. Ek question hai. Form 26 AS and AIS mein FD interest income slightly different show Kar Raha hai. Suppose, form 26 AS shows FD interest income as A, then AIS shows it as A+B. Yeh difference sirf thora sa hi hai, 200 rs se bhi kam. Jab maine AIS ke details ko Dekha, clicking on interest from deposit, it shows the following 2 rows like this:
1st row:
SFT - interest income (SFT...) Term deposit - bank name - interest - A+B ( under 'reported,' 'processed,' and 'derived' all 3)
2nd row:
TDS/TCS - interest other than " interest on securities" received - Bank name - amount paid/credited - A ( under 'reported' only, ' processed' and 'derived' are empty in 2nd row).
Ab ITR file karte samay kaun sa amount daalna hai, A or A+B ? Please reply dekar Mera doubt clear kijiye. Thank you so much.
Better to file jyada wala amount
Otherwise actual amount as per your records ( interest certificate)
@@CASumitSharma Thank you so much for replying. Main zyada wala amount hi daal deti hoon. Keep making such informative videos.
ITR me accrued amant +actual intrest dikhani? Batay
Very informative video.Thank you. I have one doubt sir. The accrued interest shown now become paid during next year.So for this same amount we will be paying tax twice. This year as Accrued interest & next year as paid interest. Please clarify this point sir.
Need to show as per form 26 as
Thanks for information regarding accrual interest. But in my view accrual interest in one year will become paid interest in the next year. This way accrual interest will be taxed in both years. Pl clarify.
Need to act as per 26 AS
Your reply as per 26as is not reply of question asked.
If we add acrual interst in income , will be paid in next year. This will not be case of double taxation?
Will not paid in next year
If paid will not get taxes double time
I confirm from a banker
Just show in income as per 26 as this was my reply and is
Thanks for the informative video. I have one query. Whether I need to pay tax on Interest accrual?
No
Rest make sure to reconcile with 26AS
Sir bank statement jaisa aapke video me hai sem hai accrual intrest fd ka hota hai pr agar mod balence ka Paisa aprail me nikal lete hai to fd ki jagah seving ka intrest milta yani accrual intrest km ho jyega yesi esthiti me accrual intrest pr incom tex paid hone pr lagna chahiye sir video fir se banaye or clior kre
Sumit sharma ji reply kre
Mod always FD interest
Show interest as per form 26 AS
Great, Keep going,,,,,,,,,,,, Regards
Thank you, I will
aapne acha explain kiya hai kya aapke channel pai koi esa video hao Jismai yono sbi mai Deposit accounts mai jo fd hote hai usmai Maturity Amount,Accumulated interest, Available balanc ke beech mai diffrence samag aasake.
Thanks
Hai to nahi
Will try to make a video on that
The accrued interest is payable in say in next financial year. This year I paid on accrual basis, when actually it is paid in next financial year, then also this will be taken into account? Why should I pay double tax on same amount? This is irregular, would you please clarify?
You right
But as per form 26 as act accordingly
This year accured interest of stdr.become the interest paid in next year maturity paid interst.Is this type of interest considered as double interst in income tax return.please explain it . Thanks
You are right
But need to show interest which is showing in 26 as ais tis
sir mujhe interest certificate HDFC bank se mila waha interest earned, tds and accrued interest ka column diya hua hai. Interest Earned ka matlab mujhe thora samjha dijiye ye kya cheez hai?
Take as per 26 as ais tis
Sir, pls guide here:
In bank FD interest certificate, TDS deducted is on higher side (this may be due to consideration of accrued interest) and in Form 16, TDS deduction is on lower side (may be due to they consider only paid interest)
Is my understanding correct?
Not able to file ITR because of this mismatch. TDS deducted in bank interest certificate should be match with Form 16 to proceed further, pls guide!
Need to show interest as per form 26 as
Awesome
Thank you
Sir ji 26 as and ais me paid interest and accrual interest dono ko jodkar dikhaya gya hai or 10 parsent tds bhi kata gya hai itr me 30 parsent tex sale me aa rhe hai kya itr me accrual interest ko es sal n jodkar next year me jod sakte hai
As per 26 dikhao
Better rhega
Sir accrual int bastbik incom hai ya paid interest bastbik incom hai kis interest pr incom tex paid karna chahiye repy
Sharma ji koi jbab nhi hai kya
As per interest certificate or 26 as show kro
Intrest accrual PR paid ke time incomtex paid kr sakte hai ya abhi Dena hoga
Treat as per form 16A 26 AS ais tis
शानदार
Thank you
Post office had shown int of 5 years of nsc to income tax office actually bank shows 1 year int of all existing fd accounts where as post office has shown only close account .Can from next year post office will show int as per bank?
Full possibility
Last year interest accrued shown in ITR should be reduced?
Show as per 26 AS AIS TIS
@@CASumitSharma but it is very high, last year accrued balance (reported in itr as well) was quite high.. ais is showing accrued + paid of this year, no treatment for last year accrued
Sir ek video us par bana dijiye jab itr file karne se phele ITR banate hai jisme tds salary edit karte hai phir hum itr file karte hai
Ok
Excellent
thank you
Int Accural kya sirf usi FY ka interest kamai hai ya jabse FD khula hai tabse jitna kamai woh dikha raha hai. (In case FD hai Interest paid at Maturity)
Usi year ka
इस वित्तीय वर्ष का एक्रूअल इंटरेस्ट आगामी वित्तीय वर्ष में इंटरेस्ट पैड में कन्वर्ट हो जाएगा इस प्रकार एक ही राशि का दो बार टैक्स भुगतान करना पड़ेगा क्या सही रहेगा
Nahi hoga
I confirmed from bank
Check 26 AS of this year and next year
Could you please make a video on RSU(just held not sold) disclosure in schedule FA
Show under investment
Kya akela interest paid dikha sakte hai agar income tax bn jata hai
Ya dono ka sum dikhana jaroori hai
26 as k according
@@CASumitSharma 26as main no transaction likha hai
But ais main hai
Sharma ji plz reply fd interest me paid interest and accrual interest and sailry jodne se 30 parsent salab me AA rahe hai kya accrual interest ko next year me jod sakte hai
Take As per form 26 as
@@CASumitSharma 26as or ais me accrual interest and paid interest dono ko jodkar dikhaya gya hai and 10 parsent tds bhi kata gya hai kya itr me only paid interest show kr sakte hai accrual interest next year me add kar sakte hai ya nahi
Sir, isse itr file karne ka samay kaise form varna hai iske bare vedio banaiye. Achcha samay nahi ara . Kya form 16 ke total income ke sath ye total 52K+ ko jodna parega
Show as per form 26 AS AIS TIS
Sir mere certificate mein 5 year term deposit ke todne par excess amount recovered minus mein show ho rha hai toh iska kuch toh nhi hoga na g? Please advice
Nahi
Show interest as per ais Tis 26 as
EXCESS INTEREST RECOVERED YE OPTION HAI AUR USAME 30811 INTEREST MILA HAI TO USE KONSE OPTION ME ADD KARENGE ITR KE LIYE
Show actual, as per ais Tis 26 as or as per interest certificate whichever is higher
Sir accrual intrest mod ka Paisa nikalne pr intrest seving account ka milta lekin accrual intrest fd ka hota hai to incom tex kaise paid kre
Better to show interest as per 26 as
Interest certificate
Sir, Kisi ka income 2.5 lakh se kom he and o online games se 25000 win karte and o itr varte he to usko kya 87a k under rebate milagi kya?
Yes
THE BEST
Thanks 😊
Sir interest accrual main tax Dena parta hain ya nahi....agar mature na ho financial year main?
As per Interest certificate
Or as per actual
Or as per ais Tis
Whichever is higher
@@CASumitSharmaSir iss hisab se next year interest accrued barh jayega. Toh kya same interest main phir se tax Dena parega? Maan ligiyian FD 3yrs ka ho
Sir internet accrual itr ma income from other sources add karna
Ji
Sir ji year2022/2023 me paid interest 12000 tha or accrual interest 10000 rupe dono ko itr me show Kiya or tex paid Kiya year 2023 me paid interest 30000 and accrual interest 22000 hjar bank statement me show ho rha year 2022/2023 ke accrual interest pr dabal TDS kata gya hai yese me kr data pr dabal bojh pad rha hai yese me hme kya karna chahiye kya har sal sirf paid interest itr me show kr sakte hai
Sir ji 2022/2023 ke accrual interest ko 2023/2024 ke paid interest me bank duwara jod Diya jata or TDS 2 bar Dena padta hai AAP thoda samjhne ki kosis kre or sahi reply de sirf itna nhi 26as dekhe plz plz
26 AS k according show kro
@@CASumitSharma sir 26as me Jayda interest show ho rha hai daubal tex lag rha hai
Sir ji aap kebal 26 as ke bhakt hai mera question hai fd paid interest and accrual interest 26 as me show hota hai or dono pr TDS kat liya jata hai next year fir se paid interest and accrual interest dono pr fir se TDS bank kat leti hai pichhle year accrual interest ko paid interest me jad iya jata hai jisse ek bar accrual interest interest pr TDS kat jata or next year ke paid interest me fir jod Diya jata hai yani do bar TDS kata jata hai es samasya kuch n kuch answer jarur de sirf itna nhi ki 26 as dekhe danybad
Sir ji reply kre
Aaap feedback de sakte ho
Sir intrest accrual ko next year ke intrest paid me se minus karna hota hai kya
Kr sakte ho
Jo b method follow kro
Continue rakho
Very nice vdo
Thanks a lot
Unique
Thank you
Sir, how to make balance sheet in case fno transaction
I have explained in my ITR 3 video
Just basic things provided by borker
Kindly guide , form 10IA is mandatory or not for locomotor disability for 80DD deduction
Yes
@@CASumitSharma very very thank you for super duper reply
Sir I have income from Salary, 8 Lakhs, and lost 356000 in online gaming, I want to set off this loss against my income from salary. How to do that?
Not possible
if tds not deduct in case what to do sir
ITR filing mandatory if Income cross 250000
This video is very helpful for taxpayers!!
Sir, I filed itr-2 in financial year 22-23 bcoz of i withdraw SIP around 1lakh.......so can i file itr -1 this financial year
Yes
No issue
Sir mod balnce pr accrual intrest paise nikalne pr km ho jata ti incomtex paid kaise kre
As per 26 as
Sir 2023 me accrual intrest pr tds kat liya or 2024 me intrest paid pr tds kat liya sir double tex 1 fd pr do bar tds kat liya gya yesa kiyo
Bsss Kai bank wale ese krte hai
Aaap 26 as k according chalo
Sir, every year interest paid and interest accrued comes in interest certificate and the total is reflected in 26AS and AIS. So we will pay tax on total interest paid+ accrued.
Then what happens on next year?
Again we are paying on interest paid+ accrued..
Is it not double taxation?
This year accrued will come in next year paid...
I have serious doubts. Please clear
You can take the interest amount showing in ais tis or 26 as
I have seen it is always the total of both paid and accrued.
My doubt is this year's accrued is paid of the next year or not?
Then we are paying tax twice on the same interest.
@@hkn1241 I have the same doubt.
Kindly help Sir.
The date should be before 01/04/2023 for ay 2023-24 ka error AA Raha hai plz soluton batao
Retry with start new filing
is Form 10-IA necessary for 80 dd deduction for sibling
Yes
In my intrest certificate, intrest paid+ intrest accured is about 25493+27862=53355 but when i check my bank statement, the total intrest credited is about ₹37896 in a financial year. This means some part of accured amount is not paid in this financial year, It may be paid in next financial year. So why should we pay tax on full accured interest which is not paid in this financial year. Please guide us.
It's upto you
You can follow either cash or accural basis and follow that continuously
@@CASumitSharma but intrest paid in intrest certificate is ₹25493 but I got ₹37896, why huge difference??
Ye deposit interest itr me kon sa section me hoga
Income from other sources
Allowance kitna claim kr skte hai interest income pr
Saving 10k
Fd 0
For age less than 60
Saving plus FD 50k
For senior Citizens
Sir iski journal entry kya pass hogi
Interest income credit
Accrual interest debit
My brother is married but dependent on me can claim 80DD (physical handicapped more than 42%) . Kindly guide
Yes
Interest accoural paid kha hota hai hmee passbook m nhi dikhta
Next year overall ho jata hai
Paid
Very nice.
One question related to interest earned on NSC.
If tax is paid on interest accrued on NSC every year by adding in income from other souin return, then is it necessary to pay tax on complete interest again at the end of 5th year.
As complete amount is reflecting in AIS.
Please advise
Only once
Either Every year or at the year of maturity
@@CASumitSharma thanks alot. I paid every year. Now the complete amount is reflecting in AIS under AY 23-24. What should I do in this case.
Adhar Csp ke liye kaunsa itr bhare
Itr 3
Sir can house rent claim 80GG without submit Form 10BA
No
Must fill that form
Video coming very soon
Department may not give you deduction of section 80GG without this
Thanks for the detailed explanation.
I have the following doubts:
1. FY 22-23 AIS is showing the sum of interest paid + Accrued .If I file the ITR for this Sum then in the next year the Accrued interest will be paid to me and it will reflect in the next year bank interest certificate as interest paid, so it will be like double taxation (Kindly correct me if I am wrong). (TDS was not deducted by the bank(they were supposed to since i updated my residency status in March 23) and so that info is not reflected in 26AS.)
2.Last year (FY 21-22) I filed ITR showing only Interest paid and did not include the interest Accrued since my AIS was not updated.Since the interest Accrued in FY21-22 is included in interest paid in FY22-23,kindly advice if my understanding is correct
I have the same doubt. Kindly help sir.
Hope we can get a reply
I have the same doubt?
Same doubt
Sharma ji pl reply
Mtlb accural bhi add krke income me add krenge
For safer side
Otherwise go with ais tis and 26 as
2600 ka deference jo h vo last me saving account ka intrest h shayad unhone vo nahi add kiya ho
👍
Jai Shree Ram,
I have taken lot of help from your video in the past. I want little clarification regarding 26 AS. I am getting pension from EPFO after retirement under option A contributed EPF amount. Total amount is approx Rs 3.6 lac. Secondly LIC amount pension Rs1.2 lac under PMVY .
Should I mention these amount while filing ITR which is not available in form 26AS.
Recommended to show in ITR
@@CASumitSharma thank you
Most welcome
6000 रुपये Excess interest recovered, fd break कराने पर दिखा रहा है। उसका क्या लाभ मिल सकता है
Need to show in ITR
DEPOSIT ACCOUNTS INTEREST CERTIFICATE FOR FINANCIAL YEAR 2023-24. Aaj ye email pe message aaya hai iska matlab kya hota hai interest paid 252 likha hua hai kis kaam aata hai pls btye
To show in ITR
@@CASumitSharma agar mai kuch nhi karunga to kya hoga fir kuch problem to nhi na hoga kya mujhe paise Dene hai kya bank ko
ITR filing mandatory if Income cross 250000
@@CASumitSharma thankyou
जो INT ACCURAL है वह मतलब अभी बैंक ने पेड नहीं किया तो वह कब पेड करते है बैंक वाले
As per their schedule
Monthly quarterly
Pls reply
What is your query
Sir I m going to file itr of my mother I hv taken interest certificate from bank and in the certificate interest credit shows 7lakh and intrest accrued shows 4 lakh (approx figure) I want to know whether I have to consider both figure 11 lakh or interst paid amount 7 lakh ?
@@CASumitSharmapls reply
Sharma ji आप बार बार एक्यूरल इंटरेस्ट बोल रहें हैं जबकि बैंक तो इसे एक्रूड इंटरेस्ट बोलता है। कौन सा शब्द सही है। मैंने एक्युरल शब्द कहीं नहीं पढ़ा है।
Accural is in present tense
Accured is in past
Use accordingly
Interest paid total 35000 h to aur annual income 5 lakhs se uper h to tax dena hoga kya
Kitna upper
5lakhs se 10 thausents
Yes
bhai aake english teacher kaon the?
jara phirse ikbar accrual and deducted bolo bhai
kaphi hasi aati he vo sunake
Achyaa
@@CASumitSharma aap achha kaise bolate he?
achyaa achyaa boliye ik bar , isase bhi hasi aati he.
deductad deductada vaaa maza aagaya
Sir jully and August 2023 ka betan may 2024 me Mila hai isko kis year me incom show karege
As per form 16
Jis month yera ka tha
Wahi show Krna hai
On accrual basis
Please guide, can 80DD claim for marriage brother (sibling)
Can be taken if brother is dependent on you