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Income from fd

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 July 2013 if there is fd matured,then income from fd shoul it be taken as other income?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
16 July 2013 Interest on Fixed deposit, need to take as Income from other sources. not fixed deposit amount
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
16 July 2013 Yes income from fd i.e., interest on FD amount is taxable under the head "Income from Other Sources".
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Ashwani Narnoli

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Ashwani Narnoli (Expert)
17 July 2013 agree with above
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
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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