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
- Itr 1 processing
- Reporting Income under Section 44ADA
- Building and other construction workers welfare cess act 1996
- ITR validation error - Balance sheet is not filled
- Bank Accounts in Balance Sheet for ITR 3
- ITR 1: Details for showing Exempt Income
- TDS ON CASH WITHDRAWALS...
- Article ship defecit
- Query regarding TDS on EPFO Higher Pension Arrears*
- Annual return of gst limit
- Post Office RD Interest
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
