Tds charged on interest income of tax saving fds
This query is : Resolved
08 March 2014
please tell me that ....is tds to be charged on interest income earned from tax saving FDs for any year of the blocking period?? if yes, then can i save that tax amount if my net taxable income is less than rs. 2 lacs????
08 March 2014
Interest received on tax savings fixed deposits will be taxable under Income from other sources. incase your net taxable income is less than Rs.2 lakhs, then you can file the return claim refund the tds deducted on the interest amount
09 March 2014
can i fill form 15 g to avoid that tax as my gross salary income is rs. 240000/- ???
09 March 2014
Form 15 g applicable for those taxable income below the basic exemption limit, if your taxable income below Rs.2 lakhs, you are eligible for apply form 15G
09 March 2014
sorry, i wont be able to get u properly......
i still have a confusion......
my gross salary is rs.240000/- but as i have done investment under 80c/80cc, my taxable income reduces to rs.160000/- and as i have a tax saving fixed deposit of previous year and other fds, my accrued interest income would be around rs.15000/- (including the interest earned on previous year's tax saving fixed deposit), now tds to be deducted @ 10% on rs.15000/- interest income, so now tell me that what should i have to do in this situation to save tax on interest income?????
i still have a confusion......
my gross salary is rs.240000/- but as i have done investment under 80c/80cc, my taxable income reduces to rs.160000/- and as i have a tax saving fixed deposit of previous year and other fds, my accrued interest income would be around rs.15000/- (including the interest earned on previous year's tax saving fixed deposit), now tds to be deducted @ 10% on rs.15000/- interest income, so now tell me that what should i have to do in this situation to save tax on interest income?????
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- Rental income gst and it purpose
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Experts need help
- EPF FULL & FINAL RULES IN 2026
- Gift Received from nonblood relative
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
