Interest accrued from SB account if less than 10000 is exempted. However, while filing the returns , it is getting added to income. Interest from NSC has also the same case including interest from the refund. Why is this happening this year?

Ans: No action is required as of now. In case of any notice/intimation in future (at the time of maturity), you can reply that income is already offered to tax in earlier years on accrual system.

Ans: You can provide feedback against AIS entries that income is already offered to tax in earlier years on accrual system.

Ans: Reconcile with Post Office Records:

Obtain detailed interest certificates from the post office for all the years in question.
Compare the interest amounts shown in these certificates with the figures reflected in your ITR.
Verify with Your CA:

Discuss the issue with your CA and provide them with the post office certificates.
Request them to re-calculate the interest income accurately.
Ensure that the interest income is included only once in the relevant tax year.
Check Income Tax Portal:

Review your income tax account online to verify the interest income figures.
If there are discrepancies, contact the Income Tax helpline for assistance.
Consider Revised Return:

If the error is significant and has resulted in additional tax liability, you might need to file a revised return.
Consult with your CA to determine the best course of action.
Maintain Proper Documentation:

Keep all relevant documents, including NSC certificates, interest calculations, and communication with the CA and Income Tax department, for future reference.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

Ans: If you are using online utility and if NSC interested in AIS, same will be displayed in draft ITR.