Mukesh Sharma (B.Com) (42 Points)
07 July 2016
Harshit Kabra (INVESTOR)
(Student CA final)
(1113 Points)
Replied 07 July 2016
investing of income earned from exempt source is not allowable to deduction except investing in other exempt sources.
further, the intrest u get on fd is taxable as only saving bank intrest is not taxable
further more , if ur annual intrest is more than rs 10000 , then bank will deduct 10% tds on such intrest of which u can take credit at the time of filling return of income.
regards
CAclubindia
