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Cgas fixed deposit - how will it be taxed?

This query is : Resolved 
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(Querist)
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
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
26 August 2013 Interest is taxable under the head'income from other sources'.
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