Fd interest
This query is : Open
06 May 2017
i am a salaried person and i get FD interest for fy 16-17 around 35000/- and my taxable income is above 350000/- can we get any deduction against FD interest
06 May 2017
FD interest is fully taxable no deductions are available but if any TDS is made you can claim the same in your income tax return.
06 May 2017
can i charged some amount of expenses against FD interest to minimize the tax or is there any other option or medical expenses which i bear for my mother and father against any plz guide
06 May 2017
Only those expenses which are incurred for earning that income are allowed as deduction from that income.
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KAVIRAJA ADDANGADI
(Expert)
07 May 2017
You can not claim expenses against FD interest, you declare full FD interest in your taxable income, If TDS Deducted on FD can be adjusted against tax liability.
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CA Rashmi Gandhi
(Expert)
07 May 2017
No deduction is available on FD intt. However TDS is deducted on such FDR Intt, it will give u relief in tax.
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