Dear sir /madam,
Kindly clarify whether FD closures are taxable ?
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***FD CLOSURE***
Replies (3)
Quick Summary
Closure of fd is not taxable provided fd is white money and tax has been regularly paid on interst income till the closure.
No it's not taxable, because an FD is not an income.
However, any interest you earn from the FD is taxable.
Fd interest is the incremental income that is taxable.
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