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.
Message likes :
1 times
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.
Message likes :
1 times
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.
Message likes :
1 times
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
- Opting our of sec 44AD
- Multiple trade mark
- Regarding appeal to GSTAT
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Copyright software
- Form 121 & TDS deduction
- LC charges in relation to Asset purchased should be Capitalised ?
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- Transporter Declaration form
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
