How to Report Interest Income, FDs & Dividends Correctly in Your ITR (FY 2024–25)
Many salaried individuals and retirees miss out on reporting interest and dividend income — either by mistake or because they think “TDS is already deducted.” But under-reporting or omitting these incomes can lead to mismatches with Form 26AS/AIS, refund delays, or even scrutiny. 👉 This blog will help you understand: What Counts as Interest Income? You may be earning interest from multiple sources, including: All interest income is taxable unless specifically exempt. Is Dividend Income Taxable? Yes. From FY 2020–21 onwards, all dividends received from shares and mutual funds are taxable in the hands of the investor. Where to Report These in Your ITR? In ITR-1 / ITR-2: Declare the gross amount (before TDS) — TDS will be auto-filled in Form 26AS / AIS What About Deductions? Section 80TTA – For individuals (below 60 yrs) Section 80TTB – For senior citizens (60+) Not available if you opt for New Regime Real-Life Example Mrs. Leela (Age 65) has: 👉 Total Interest Income = ₹55,000👉 Dividend = ₹12,000 In Old Regime, she can claim:✅ 80TTB deduction = ₹50,000 👉 Taxable interest = ₹5,000 👉 Dividend = Fully taxable at slab rate Common Mistakes to Avoid How to Track All Interest & Dividend Income Use these steps before filing: Let BizGuardian Help You File Accurately At BizGuardian, we: 👉 Get your return filed smoothly — and avoid TDS mismatches! Don’t leave your refund unclaimed — Contact BizGuardian today.[ Email: support@bizguardian.in / WhatsApp : 9003009901]