Didn’t report FD interest in your ITR? Here’s how you can still correct the mistake

Fixed Deposits (FDs) are one of the popular ways of investment as many people invest in them to get an income from interest. However, such an FD interest is fully taxable and must be declared in your Income Tax Return (ITR) under the head- ‘Income from Other Sources.’ The FD interest is taxed according to your applicable income tax slab rate, rather than at a flat rate, regardless of whether TDS was deducted by your bank.

ITR deadline to report FD interest