Income Tax Return: Download the interest certificate first, then file your return; here is the process..
Income Tax Return: The deadline for filing Income Tax Returns (ITR) is fast approaching. If you haven't filed your return yet, you should do so soon. Experts advise against waiting until the last minute to file. Additionally, do not forget to disclose the interest earned on bank deposits in your return.
**It is mandatory to declare interest income in the ITR**
Experts state that taxpayers should verify the interest earned on their bank deposits before filing their Income Tax Return (ITR). If you hold multiple bank accounts, you must declare the interest earned across all of them in your return. Failure to provide accurate information regarding interest income could lead to inquiries from the Income Tax Department.
**Complete details of interest income in the interest certificate**
You can download an interest certificate from your bank's website. It contains comprehensive details of the interest earned on your deposits during a financial year. This is a crucial document for tax purposes, as the Income Tax Department may request it from taxpayers. It serves as proof of the total interest amount received during the financial year, covering earnings from savings accounts, fixed deposits, and recurring deposits.
**How ICICI Bank customers can download it**
To download the interest certificate, visit the bank's website and log in using your ID and password. ICICI Bank customers should navigate to the 'Payments & Transfer' tab, click on 'Tax Center,' and then select the 'Download' option within the 'Interest Certificate' section. After entering the account number and the relevant period, you can download and save a PDF copy.
**How SBI and HDFC Bank customers can download it**
HDFC Bank customers need to log in to the bank's website and go to the 'Accounts' section. From there, click on 'Download Interest Certificate' under 'Quick Links.' After selecting the account number and the period, you can download the interest certificate. After logging into the bank's website, SBI customers can click on the 'e-Services' option in the top menu bar. Then, by clicking on 'Interest Certificate', they can download a PDF copy.
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