I had take Bank FDR - 5 year in FY 2010-11 & claim deduction under section 80 C in income tax return in Fy 2010-11 , now I want encash the Bank FDR , Pls clear the tax liabilities on FDR amount ( Interest & principal ) & in which year is taxable. year of maturity or year of FDR taken.
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tax liabilities urgent
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Principle as well as Interest will be Taxable in Case of Encash the FDR Before 5 Years. Taxable Amount will be the amount on which you taken Deduction.
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