Interest on FD is taxable for a person of 58 years age ? Or the same is taxfree under any of the section.
Interest on FD is taxable for a person of 58 years age ? Or the same is taxfree under any of the section.
Yes fully taxable,
No specific deduction available under chapter VIA to persons below 60 years of age.(80TTB is only to senior citizens)
note: banks deduct TDS on FD interest under sec194A, hence check form26AS and avail TDS credit
Akshay Agaldiviti
akshay.agaldiviti @ gmail.com
CAclubindia
