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semi fixed deposit account
There is a scheme in my saving account that if balance cross limit of Rs. 50000 then bank keep the excess amount as fixed and pay interest @ 7% which is higher than saving bank interest rate.. Now my question is interest income will be taxable as saving bank interest or fixed deposit interest because 80tta is only for saving bank interest?
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The interest over that temporary FD is taxable under IFOS, where TDS will be applicable, and the interest is not deductible u/s. 80TTA...
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