5 year tax saver FD
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 February 2010
what is the treatment of 5 year tax saver FD in the year of reciept of principal amount & interest??
Is there any better investment plan with good returns??
Is there any better investment plan with good returns??
22 February 2010
Interest on FD will be treated as Income from Other Sources. Accrued interest on FD should be taken into account every year for the purpose of computing interest. In the year of receipt, only interest pertaining to that year will be treated as income from other sources.
You can also go for Systematic Investment Plan(SIP) of Tax saving Mutual Funds like SBI Magnum Tax gain, HDFC Tax Saver etc. SIP will give good return over a period of time, than interest on F.D.(but still market risk is there).
Regards,
A.Palani
You can also go for Systematic Investment Plan(SIP) of Tax saving Mutual Funds like SBI Magnum Tax gain, HDFC Tax Saver etc. SIP will give good return over a period of time, than interest on F.D.(but still market risk is there).
Regards,
A.Palani
24 February 2010
Agreed.Interest is taxable under the head other sources
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- FORM 26A APPLICABILITY
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
