Fixed Deposits InterestTax free to the bank's share holder
This query is : Resolved
prakashphadke
(Querist)
24 September 2010
Hi,
Is it true that the Interest received on Fixed Deposits is tax free to the bank's share holder. If so kindly quote the IT section for this.
Regards,
Dear Sir,
Request elaboration on this with IT section.
Thanks & Regards,
Is it true that the Interest received on Fixed Deposits is tax free to the bank's share holder. If so kindly quote the IT section for this.
Regards,
Dear Sir,
Request elaboration on this with IT section.
Thanks & Regards,
Aditya Maheshwari
(Expert)
24 September 2010
The interest income is not tax free but in some case can be paid without deducting TDS.
prakashphadke
(Querist)
28 September 2010
Request elaboration on this with relavent IT section
Aditya Maheshwari
(Expert)
28 September 2010
Not exempt.
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