Fmp
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 March 2014
Whether the interest Credited in FMP during the year is taxable in the hands of assessee or is taxed collectively on maturity ?
Nikhil Kaushik
(Expert)
11 March 2014
it is not taxed as interest credited. FMP less than a year will be taxed as short term capital gains...for more than a year, you get indexation benefit.
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