Accrual taxation of deposit interest requires annual inclusion by depositors and notification by private sector issuers to enable disclosure. Interest on cumulative deposit schemes of private sector undertakings is to be taxed on an accrual basis annually; private sector issuers must inform individual depositors of accrued interest amounts so depositors can disclose and include that accrued interest in their income-tax returns.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Accrual taxation of deposit interest requires annual inclusion by depositors and notification by private sector issuers to enable disclosure.
Interest on cumulative deposit schemes of private sector undertakings is to be taxed on an accrual basis annually; private sector issuers must inform individual depositors of accrued interest amounts so depositors can disclose and include that accrued interest in their income-tax returns.
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