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Matter of fd.

This query is : Resolved 
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Guest

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Guest (Querist)
16 March 2012 gud afternoon sir/mam,
i m a salaried class person . i want to know only this.that can i take deduction of FD. in income tax
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
16 March 2012 If the FD is under Tax Savings Scheme then you can claim as deduction under section 80C in the year of investment however interest on it taxable either cash basis or accrual basis what you want. Other wise FD amount not exempted and the interest on it is taxable either cash or accrual basis what you want.
OM SAI SRI SAI JAI JAI SAI
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