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5 year Taxsaver FD.

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CA Bhawesh Jagnani

CA Bhawesh Jagnani (Querist)
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22 March 2010 What is the treatment of Principal amount & interest at the time of receipt?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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22 March 2010 Interest is taxable. Please see clause 15 of the CBDT notification 203/2006, dated 28-7-2006.

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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22 March 2010 agreed

CA Pramod Jain

CA Pramod Jain (Expert)
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22 March 2010 interest is taxable on accrual basis

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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22 March 2010 agree

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