Interest on FDs - Do in need to pay full tax

This query is : Resolved

Prabh Singh (Querist)
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07 September 2021 Hi,

I am getting quarterly interest on Corporate FDs for which some tax is deducted at source.Now i have got some queries related to this:

1) Income from FDs is considered as Income from other source.Is there any way to save tax from these FDs?

2) Do i need to pay tax on FDs at end of financial year or its going to be quartely?

Thanks,
Prabh

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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07 September 2021 1. No other exemption for FD, but as usual deduction u/s 80C etc.
2. Not required to be paid quarterly (other than TDS deducted); but check your advance tax liability along with its installments.

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