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Exemption on excise duty

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(Querist)
01 August 2014 Pl clarify whether interest earned on fixed deposits from coop banks is taxable or exempt?
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(Querist)
01 August 2014 why excise duty is not exempt in case of export to Nepal and Bhutan?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
01 August 2014 Interest earned on FD in cooperative bank is not exempt. Its taxable under the head Income from other sources. Infact interest income from fixed deposit in any bank is taxable. FD interest does not enjoy any exemption.



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Rupesh Jain

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Rupesh Jain (Expert)
07 August 2014 intt is taxable under the income from other sources. and bank will deduct the tDs if pay more than rs. 10000/- in year.
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Rupesh Jain

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Rupesh Jain (Expert)
12 August 2014 due to it is clearly mention in act this not come under the export.

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