Exemption on excise duty
This query is : Resolved
R MEENAKSHI SUNDARAM
(Querist)
01 August 2014
Pl clarify whether interest earned on fixed deposits from coop banks is taxable or exempt?
RAJESH SHARMA
(Querist)
01 August 2014
why excise duty is not exempt in case of export to Nepal and Bhutan?
01 August 2014
Interest earned on FD in cooperative bank is not exempt. Its taxable under the head Income from other sources. Infact interest income from fixed deposit in any bank is taxable. FD interest does not enjoy any exemption.
Rupesh Jain
(Expert)
07 August 2014
intt is taxable under the income from other sources. and bank will deduct the tDs if pay more than rs. 10000/- in year.
Rupesh Jain
(Expert)
12 August 2014
due to it is clearly mention in act this not come under the export.
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