Interest on fixed deposit

Yes, it is Taxed uner Income from Other sources.

The Interest Income that come from the Fixed Deposits with Banks are to taxable under the Head " Income from Other Sources"

agreee with above

Dear Srinivas,

The interest on fixed deposit are taxable. Up to the assessment year 2012-13 there is no confusion. From the assessment year 2013-14, the government has introduced a new section 80TTA. According to that Section an individual can get exemption up to Rs. 10,000/- on the interest from SAVINGS bank accounts. This exemption is not extended to ‘TIME DEPOSITS’ (fixed deposits). Hence the interest from fixed deposits are taxable for the assessment year 2013-14 also.

श्रीनिवासजी, Fixed Deposit  का ब्याज करयोग्य होगा चाहे वह Nationalized बैंक का हो या किसी अन्य बैंक का । वित्त अधिनियम 2012 के द्वारा किये गये संशोधन के अनुसार एक नयी धारा 80TTA  जोड़ी गयी है जिसके अनुसार बचत खाते से ब्याज की आय 10000/- तक की छूट प्रदान की गयी है । 

ya Fixed Deposit intrest...income under the Head Income From Other Source.

Interest from Fixed Deposits is chargeable under head - Income from Other Sources

It is taxable under the head Income from other sources

vDear Srinivas,

The interest on fixed deposit are taxable. Up to the assessment year 2012-13 there is no confusion. From the assessment year 2013-14, the government has introduced a new section 80TTA. According to that Section an individual can get exemption up to Rs. 10,000/- on the interest from SAVINGS bank accounts. This exemption is not extended to ‘TIME DEPOSITS’ (fixed deposits). Hence the interest from fixed deposits are taxable for the assessment year 2013-14 also.

Yes dear, it is taxable under income from other sources.

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Thanks all for clarrifying my issue.