Tax on fd
This query is : Resolved
22 October 2012
Interest on FD if going above 10,000 will attract tax.My question is 10,000 is the difference between principal and maturity value or interest for that financial year only.
22 October 2012
Interest for the Financial year on a particular FD if exceeds 10,000 tds has to be deducted and NOT on difference in Maturity proceeds and principal .
22 October 2012
Agreed with the reply
23 October 2012
agreed with the experts. condition for TDS liability which is interest of Rs. 10,000 would be applied to each assessment year only and not at the time of maturity between the difference of the maturity amount and fd amount.
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