Hi!
My Self is bablu kr jha any body tell me abt fdr with bank ?
fdr interest is taxable or not ? if yes, then tell me its exemtion limit.
Bablu Kumar Jha (Accounts Manager) (266 Points)
11 December 2008Hi!
My Self is bablu kr jha any body tell me abt fdr with bank ?
fdr interest is taxable or not ? if yes, then tell me its exemtion limit.
Bablu Kumar Jha
(Accounts Manager)
(266 Points)
Replied 11 December 2008
| Originally posted by :Bablu Jha | ||
| " | Hi! My Self is bablu kr jha any body tell me abt fdr with bank ? fdr interest is taxable or not ? if yes, then tell me its exemtion limit. |
" |
CA. SUJAL MEHTA
(Service)
(3316 Points)
Replied 11 December 2008
FDR interest is taxable if it exceeds Rs. 10000 p.a. per bank. But, you can get relief in deduction of tax by submitting Form 15G / 15H to the bank.
Bablu Kumar Jha
(Accounts Manager)
(266 Points)
Replied 11 December 2008
CA. SUJAL MEHTA
(Service)
(3316 Points)
Replied 11 December 2008
If you are a Senior citizen, you have to submit FORM 15H otherwise submit Form 15G.
Rakesh Aggarwal
(Student)
(100 Points)
Replied 11 December 2008
FDR Interest is always taxable, if interest exceeds Rs. 10000 then Bank needs to deduct tax............
If ur tax liability is nil or less, then u have to file 15G/H wichever is applicable
CAclubindia
