Menu
Banking
sir I have Fix deposites in bank,now I want to withdraw, withdrawing cash from bank, is there any IT problem
Replies (2)
Banks do not issue cash when FD is encashed, but the proceeds are deposited to your savings account.
Yes, you can withdraw cash from savings account without much difficulty.
Whatever the interest portioned you received from Bank on Such FD will be taxable in realising year. and No IT treatment on cash withdrawal from bank.
Recent Topic
- Clarification Needed: Reporting Accrued vs Paid FD
- TDS on prize given to participants in Livestock sh
- TDS related matter - 194 IA
- Research: How do CA firms handle GSTR-2B reconcili
- CA FINAL FR IndAS 33 Illustrtion 14
- Taxation on Sale of old Jewellery Received at Marr
- ITR-3 Filling issues
- PF withdrawal and tax liability
- Sale of Goods or Services?
- ITR form query
Related Topics
CAclubindia
