Tax on fd
This query is : Resolved
Querist : Anonymous
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
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
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
30 July 2013
FD interest is taxable irrespective of the amount.
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