Interest from FD is my main source of income, which is well below minimum tax slab.
Iintend to invest about 5 lacs in shares using money got by closing some FD. HHow Will this impact my income tax status? Do I have to show 5 lacs as income?
Interest from FD is my main source of income, which is well below minimum tax slab.
Iintend to invest about 5 lacs in shares using money got by closing some FD. HHow Will this impact my income tax status? Do I have to show 5 lacs as income?
Interest on FD is fully taxable. One may invest in equity shares on the recognised stock exchange subject to STT. Dividend as well as long term capital gain is exempt.
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I know interest is taxable. I wanted to know how the principle will be treated . My iinterest is within minimum slab. So if I close FD of 5 lacs and invest in equity is this taxable. For example, if my interests income is 1.5 lacs for this year, will next year income become 6.5 lacs. iginally posted by : Mihir |
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Interest on FD is fully taxable. One may invest in equity shares on the recognised stock exchange subject to STT. Dividend as well as long term capital gain is exempt. |  |
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Only interest is taxable and not the principle amount. You may withdrawn your FD and invest in equity.
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