Interest on FDs - Do in need to pay full tax
This query is : Resolved
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
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
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.
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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