Interest on fd

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Querist : Anonymous

Querist : Anonymous (Querist)

28 September 2014 interest on FD taxable on receipt basis or accrual basis in the case of individual salary employee.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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28 September 2014 Taxable on accrual basis. You can get the details from 26AS and also obtain interest certificate from bank. Offer FD interest for Tax and claim TDS thereon on accrual basis.

Querist : Anonymous

Querist : Anonymous (Querist)

28 September 2014 sir
interest earn on accrual basis on FD taxable as a income from other sources on yearly basis.

Querist : Anonymous

Querist : Anonymous (Querist)

28 September 2014 sir
interest earn on accrual basis on FD taxable as a income from other sources on yearly basis.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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28 September 2014 Yes. Taxable under the head income from Other Sources on yearly basis.

Querist : Anonymous

Querist : Anonymous (Querist)

28 September 2014 Thanks sanjay sir for reply my question.

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