ITR 2026: Concealing FD interest will prove costly, know how much fine and tax will have to be paid ITR 2026: Concealing FD interest will prove costly; find out the penalty and tax payable. – ..

If you have not shown Fixed Deposit (FD) interest in your income in the last ITR, then be careful. The Income Tax Department is now strictly monitoring such accounts. If caught, you may have to bear a heavy burden of outstanding taxes as well as interest and penalties.

How to fill correct information?

To rectify the mistake, you can file an updated return (ITR-U). Check all your bank statements and avoid penalties by giving correct details of interest income. Correcting it in time is the best option for you.