Interest on bank deposits
This query is : Resolved
24 September 2009
Is interest income on S/B accounts exempt from tax in the current AY or is there a limit?
Is interest income on Bank FDs exempt from tax in the current AY?
Is interest income on Bank FDs exempt from tax in the current AY?
Ratan Sharma
(Expert)
25 September 2009
Interest on saving bank account as well as Bank FD is fully chargeable to tax. There is no limit.
CA CHINTAN AJMERA
(Expert)
25 September 2009
Agree
SUBRAMONY V
(Expert)
25 September 2009
section 80 L was removed years back and now all interest are chargeable to tax
25 September 2009
Interest on SB and FD is fully taxable.
Ratan Sharma
(Expert)
25 September 2009
yes
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