Dear All,
Whether PRINCIPAL & Interest on Tax Saver FD at the time of maturity is taxable?
Thanks in advance.
Baskar
Manoj Mehta
(Head Of Department (Accounts & Finance))
(1479 Points)
Replied 16 March 2014
Mihir
(Wealth Manager)
(5293 Points)
Replied 16 March 2014
Principal is not taxable. Interest is taxable.
RAHUL GOYAL
(tax consultant)
(46 Points)
Replied 18 March 2014
Dear Baskar......Principal Amount won't be taxable at the time of maturity....but interest is taxable on accrual basis every year....
CAclubindia
