Taxation of interest

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CA MAYANK SHARMA (Querist)
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16 January 2015 If we invest any amount in FD or Insurance fund to finance the future liability on leave encashment / gratuity, then whether interest earned on FD/ Insurance fund will be taxable or not? Amount invested will be allowed as deduction as made by actuaries. Interest earned is also reinvested.

Rupesh Jain

Rupesh Jain (Expert)
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16 January 2015 if it is approved fund under the income tax then amount its will eb irrevocable and company can not take back the amount then no amount will taxable in hand of employer. but in hand of trust.

Rupesh Jain

Rupesh Jain (Expert)
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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 January 2015 Yes it is taxable as income from other source.

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