if a person received fixed deposit amount before date of maturity. The amount received falls under which head of income and any other dealing.
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Fixed deposit
Replies (7)
income from other sources
sir he receive this own amount without any ineterst
And what about interest?
nothin received
The principal so received doesnt fall under any head of income. Its mere repayment of principal amount.
Interest or excess received (if any) would fall under the head Income from Other Sources.
yes it is not an income..
Fixed Deposit is done with a view to earn interest.
Bank obviously pays interest.
Whether you redeem your FD or before maturity, banks will pay interest.
interest will be income from other sources, principal amount no effect
Bank obviously pays interest.
Whether you redeem your FD or before maturity, banks will pay interest.
interest will be income from other sources, principal amount no effect
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