Dear Professional Friends
I am Salaried Empolyee Rs6L pa for 2016-2017 & I will get interest income from my Fixed Deposit Rs6000 for 2016-2017
My Question is:
FD interest income Rs6K will attract income tax or not?
Please clarify
Adv Thanks
Cheers
Balaji Subbu
Dear,
Your Fd income will attract income tax, since your earning is > 2.5 lacs (Max Slab).
AGREE WITH ABOVE ALL FREINDS
YOU SHOULD INCLUDE YOU FD INTEREST IN TOTAL INOCME AS INCOME HEAD -INCOME FROM OTHERS SOURIES
IT IS YOUR FAVOURBLE IN FUTURE
Interest from Fixed deposit will be exempted from TDS. if the interest amount doesnt exceed 10,000/-. However you have to include it in your Total Income and Pay tax accordingly
CAclubindia
