Fd interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 February 2014
A SENIOR CITZEN HAVING A FD OF RS 10 LAKH WITH 15G FORM SUBMITTED DURING THE YR 2013-14.IS HE LIABLE TO PAY TAX FOR THE AY 2014-15 WHICH WILL MATURE ON 2019.if yes only the int accrued up to 31-03-14 to be taxed
AVTAR SINGH
(Expert)
02 February 2014
If the taxable income is below Rs 250,000 then no liability of tax. The income will be taxable on accrual basis every year.
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