Dear Sir/Madam
please help me
intrest on Fixed deposit is taxable or not
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Income on Fixed Deposit
Replies (11)
yes taxable....under other sources.....
Taxable under Other sources
Fully taxable, but interest on savings account exempt upto 10000
Yes Exactly...
FD interest is taxable...
FD interest is taxable...
Yes FD Interest Income is taxable but there is a certain limit after which it is chargeable, please consult a good tax consultant to get a clear knowledge.
| Originally posted by : frank | ||
 |
Yes FD Interest Income is taxable but there is a certain limit after which it is chargeable, please consult a good tax consultant to get a clear knowledge. |  |
Dear Sir Please mentioned Certain Limit
Add the amount to your total earnings if it exceeds the limit set by the IT Dept then pay the tax honestly. That is why I mentioned consult a good tax practitioner for further knowledge.
Interest on FD is exempt upto ₹50,000 to senior citizens u/s 80TTB from F.Y 2018-19 which is introduced in budget 2018.
FULLY TAXABLE INTEREST ON FDS , RD
HOWEVER THE SAVING ACCOUNT INTEREST IS ALLOWED AS DEDUCTION U/ 80TTA UPTO RS. 10,000/-
Yes, interest on fixed deposits is taxable under head income from other sources.
Yes, Bank deduct TDS on it and submit on your PAN. If not you are liable to pay Tax on it.
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