Income from fd
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 July 2013
if there is fd matured,then income from fd shoul it be taken as other income?
CMA Ramesh Krishnan
(Expert)
16 July 2013
Interest on Fixed deposit, need to take as Income from other sources. not fixed deposit amount
16 July 2013
Yes income from fd i.e., interest on FD amount is taxable under the head "Income from Other Sources".
Ashwani Narnoli
(Expert)
17 July 2013
agree with above
17 July 2013
Only interest income needs to be offered for tax under the head income from other sources and principle amount will not be chargeable to tax.
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