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How to get tds money refund
i have a FD in my bank. and the money is gifted by my father which was form the agricultural Land. how can i report this money to get the refund.
Replies (1)
investing of income earned from exempt source is not allowable to deduction except investing in other exempt sources.
further, the intrest u get on fd is taxable as only saving bank intrest is not taxable
further more , if ur annual intrest is more than rs 10000 , then bank will deduct 10% tds on such intrest of which u can take credit at the time of filling return of income.
regards
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