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Advance tax on fd interest
My annual salary tax is around Rs 5 lakhs. This amount is deducted via TDS by my employer. I also have a tax liability of around Rs 40000 in a year from FD Interest. Do I need to pay advance tax on this on a quarterly basis?
Replies (2)
Yes, if your net tax liability exceeds Rs.10,000/- after considering all the TDS deducted. But any such income is to be informed to employer, it gets deducted automatically.
Thanks Dhirajlalji, But I am paying advance tax on the same. Hope that is also fine?
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