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Tax on fd

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 July 2013 SIR/MADAM, FD IS MADE THROUGH SAVING ACCOUNTS AND BANK DEDUCT TAX AS AND WHEN INTT AMOUNT EXCEEDS RS. 10000/-. IF AMOUNT IS LESS THAN RS. 10000/- IS IT TAXABLE OR NOT
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Ganeshbabu K

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Ganeshbabu K (Expert)
30 July 2013 interest income from fixed deposit and also saving bank is taxable under the head income from other sources..

however you can get deduction for interest on saving bank under Sec.80TTA which should be lower of Rs.10000 or interest on saving bank
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
30 July 2013 FD interest is taxable irrespective of the amount.
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