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Rgarding fd

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(Querist)
24 September 2016 respected sir. my current salary is 11000 rs per month i save my money last one year approx 1 lakes i want make it fd
but i don't file returns so its interest come to as per 7.25 rate 7200 something foe one year so i can make to for 2 year its chargeable for one year tax or divided 2 year tax. plz advise me.
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Unnikrishnan B

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Unnikrishnan B (Expert)
24 September 2016 In fixed deposit there are mainly two types one simple interest method and another is reinvestment method .in reinvestment method the interest is reinvested with the principal

In your case you can deposit it with any commercial bank as interest income do not cross 10000/- in any FY tds will not deduct from you,
It is better for to choose reinvestment method .
If you withdraw during the period then you will get the I interest for the period which you invested minus one percentas penalty .this is normal which may change from bank to bank
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