80c fixed deposit maturity proceeds/interest income
This query is : Resolved
01 October 2012
Sir
IF an empoloyee makes a fixed deposit
under 80c for rs. 50000then what is the treatment of interest earned and maturity proceeds
pl reply at the earliest
Regards
Dheeraj Kumar
IF an empoloyee makes a fixed deposit
under 80c for rs. 50000then what is the treatment of interest earned and maturity proceeds
pl reply at the earliest
Regards
Dheeraj Kumar
01 October 2012
Interest earned is taxable while maturity peoceeds is not taxable
01 October 2012
whether the same is the case if he purchases NSC'S. or there is some difference.
tell which is better avenue for saving tax and why
tell which is better avenue for saving tax and why
01 October 2012
NSC interest is taxable on accrual basis but is also allowed as deduction u/s 80C.
So, net impact is NIL(provided the assessee has not exhausted the 80C limit).
So, net impact is NIL(provided the assessee has not exhausted the 80C limit).
01 October 2012
whether maturity proceeds of nsc's are tax free
whether interest on fixed deposit made under section 80c is not to be accounted on accrued basis
pl reply both the queries seperately
Thans & Regards
Dheeraj Kumar
whether interest on fixed deposit made under section 80c is not to be accounted on accrued basis
pl reply both the queries seperately
Thans & Regards
Dheeraj Kumar
01 October 2012
1. The maturity proceeds of NSC are tax free.
2. Interest on FDR is taxable on accrual basis.
2. Interest on FDR is taxable on accrual basis.
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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Carriage Road Act, 2007 read with Carriage by Road Rules, 2011
- RATE AND HSN CODE
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- Portuguese Civil Code IT Return
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- Journal entry of busniess expenses
- Cash balance limit and property purchases limit
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
