Matter of fd.

This query is : Resolved

Guest

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

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
Follow

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok