Fixed deposit interest
This query is : Resolved
s v rajesh
(Querist)
22 August 2011
Hi,
Is Interest on fixed deposits exempt for trust having 80G exemption?
As per my understanding surplus invested as per Sec.11(5) is exempted but the income accrued/received from that is it taxable.
Pl guide me if its exempt under which section.
Is Interest on fixed deposits exempt for trust having 80G exemption?
As per my understanding surplus invested as per Sec.11(5) is exempted but the income accrued/received from that is it taxable.
Pl guide me if its exempt under which section.
CA Navin Jain
(Expert)
22 August 2011
Interest on fixed deposits are taxable for all type of assessee.
No Exemption for Trust.
No Exemption for Trust.
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