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tax on f.d. interest
I have a 5 yr. FD (interest payable on maturity). The bank credits int. to my FD a/c periodically. Need I pay tax on int. credited every year or only on maturity, when I receive int. in cash?
Replies (3)
You have to pay tax yearly. Bank also deduct TDS @ 10%
Yes... You can calculate the interest income on every year. Bank also deduct TDS. Check out Your Form 26AS...
Check your 26AS Every Year
And file ITR for Refund of TDS that bank has deducted on FD Interest.
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