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Taxpayers filing their income tax returns for the current assessment year are being advised to download interest certificates from their banks and post office accounts, a document that shows the interest credited to deposit accounts during a financial year, ahead of the July 31 filing deadline. The certificate covers interest earned on savings accounts, fixed deposits, recurring deposits, and in some cases, interest paid on loans such as home loans.
The push comes as taxpayers gather documents needed to file accurate returns during the ongoing filing season, with tax professionals flagging the certificate as one that is often overlooked despite helping avoid filing mistakes. The figures help taxpayers correctly report income, reconcile details with the Annual Information Statement (AIS), and reduce the risk of discrepancies that could trigger tax notices.
Step-by-Step Guide, Bank by Bank
Most banks allow customers to download interest certificates through internet or mobile banking, and although menu names differ from one bank to another, the process is broadly similar — logging in, selecting the relevant account, choosing the financial year, and downloading the certificate as a PDF.
- Log in to SBI Internet Banking using your username and password.
- Click on e-Services in the top navigation bar.
- Select My Certificates, then choose Interest Certificate.
- Select the relevant financial year.
- Download the PDF. Note: the file is password-protected — open it using the first five letters of your first name in capitals, followed by your date of birth in DDMMYYYY format.
- Log in to HDFC Bank NetBanking.
- Open the Accounts section.
- Under Quick Links, click Download Interest Certificate.
- Choose the account and the required financial year or date range.
- Click Download to save the certificate.
- Log in to ICICI Bank Internet Banking with your user ID and password.
- Go to the Payments & Transfer tab and click Tax Centre.
- Click the download option under the Interest Certificate section.
- Select your account number and the required financial year.
- Click Download PDF to save the document.
Punjab National Bank (PNB)
- Log in to PNB Internet Banking.
- Click Manage Accounts, then select Deposit Accounts.
- Choose the required financial year.
- Generate and download the Interest Certificate.
- Log in to the India Post net banking or mobile banking portal using your customer ID and password.
- Navigate to the relevant savings or deposit account section.
- Select the option for interest statement or certificate.
- Choose the financial year required.
- Download and save the statement for your records.
Why documentation matters
Chartered accountants note that discrepancies between self-reported interest income and figures already captured in a taxpayer's AIS are among the most common triggers for scrutiny notices from the Income Tax Department. Cross-checking bank certificates against the AIS before filing can help identify cases where a bank has under-reported or failed to reflect fixed deposit interest, reducing the likelihood of a mismatch flagged later.
Late filing carries financial consequences: taxpayers who miss the July 31 deadline face a penalty of up to Rs 5,000 under Section 234F, along with interest charges on any unpaid tax under Sections 234A, 234B and 234C.
With the deadline now weeks away, tax advisers recommend taxpayers download certificates from all their banking and postal accounts early, cross-verify the figures against the AIS, and resolve any discrepancies with their bank before submitting returns, rather than risk complications after filing.
Prabhat Shukla
Senior Copy Editor
Prabhat Shukla is Senior Copy Editor at ET Now with over 2.5 years of experience in reporting and strategic storytelling. He is a graduate in Economics (Honours) from Lucknow University and holds a Post-Graduate Diploma in English Journalism from the Indian Institute of Mass Communication (IIMC). He currently covers the technology and automobile beats, closely tracking developments across consumer tech, mobility, and innovation. Technology has been at the core of his reporting, with cybersecurity being a key area of interest. He has reported extensively on major technology launches, often breaking news and covering launches first, and major industry events like indian mobile congress 2024 & 2025 where major theme for the 2025 edition was cyber secure India. Also, he has broken several exclusive stories in the technology space. He has interviewed prominent technologists and industry leaders, bringing expert insights to a wider audience. His reporting focuses on accuracy, speed, and explaining complex technology trends in a simple and impactful manner. Also during International Solar Alliance’s annual meet in 2024 he got opportunity to interview President of ISA, Prahalad Joshi and other diplomats from member nation of ISA. He has bylines in prominent print and digital media platforms.
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