Cgas fixed deposit - how will it be taxed?
This query is : Resolved
26 August 2013
Hi,
I have deposited funds in Capital Gains Account Scheme with Bank of India. It is 3yr fixed deposit which will earn quarterly compounded interest.
Does the interest earned qualify for Short-term or Long-term capital gains tax?
Please advise.
Kapil
I have deposited funds in Capital Gains Account Scheme with Bank of India. It is 3yr fixed deposit which will earn quarterly compounded interest.
Does the interest earned qualify for Short-term or Long-term capital gains tax?
Please advise.
Kapil
26 August 2013
Interest is taxable under the head'income from other sources'.
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