Hello,
If suppose Senior citizen has kept 1 crore as fixed deposit with bank.The bank would have an eye on that particular customer as the 1 crore is not the small amount and after getting interest he/she will add that interest into 1 crore and will also increase the FD amount.
What are the benefits they will get or will be taxable under Income tax act?
Regards,
Chirag
CAclubindia
