Interest on F.D.

Is Interest received on  Fixed Deposit Taxable?

Is there any deduction while making investment in F.D?

Replies (4)
Originally posted by :Mehul K. Thakkar
" Is Interest received on  Fixed Deposit Taxable?

Is there any deduction while making investment in F.D?
"

 

intrest received on fd is taxable, further u can also get tds certificate from bank if they deducted it

there may be deduction if u make fd in post office.

 if amount of interest is upto Rs. 5000 then it is not taxable.

Originally posted by :Mehul K. Thakkar
" Is Interest received on  Fixed Deposit Taxable?
Is there any deduction while making investment in F.D?
"

yes the Interest on FD is liable for TDS deduction if the intt on FD is more than 15000/- presently and is taxed as income from other sources.

 

Pradeep

 

If FD is invested for more than 5 years then deduction is available u/s 80C

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