Taxability of matured value of Fixed Deposits

315 views
User Avatar

189 Points Posted on 13 June 2020
please let me know the taxability of the matured amount of Fixed Deposits on which tax is paid yearly. Is TDS is made on the total matured amount paid by the payer ?
0 Reply Share Follow
On 13 June 2020 at 21:31 Report
Replies (3)
Quick Summary
This discussion clarifies the tax implications of matured Fixed Deposits (FDs) where tax has been paid annually. While TDS is applicable if the annual interest exceeds £10,000, it is only levied on the interest portion, not the entire matured amount. The principal amount of the FD itself is not subject to tax upon maturity.

User Avatar

3924 Points Posted on 13 June 2020
If your Interest on Fixed deposit exceeds 10000/- TDS applicable
Reply
On 13 June 2020 at 22:08
User Avatar

Student
1321 Points Posted on 14 June 2020
TDS is applied only on interest portion.
If interest exceeds 10,000 TDS provision get attracted
Reply
On 14 June 2020 at 05:48
User Avatar

Student
1628 Points Posted on 14 June 2020
For TDS: above two reply is correct.

For Matured Amt of FDR: There is no tax liability on matured amount.

Thanks
Reply
On 14 June 2020 at 08:18

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Affordable Residential Flats in Gurgaon
  2. Manufacturing
  3. TAN REGISTRATION ON E-FILLING SITE
  4. Form 10-IEA – Continuing Old Regime
  5. Income tax act 2026
  6. Belated Return where Form 10IEA filed this year to
  7. GST Reconciliation Tool (2A vs Books) - looking fo
  8. TDS ON PF FORM 19 WITHDRAWAL
  9. Can a virtual office in Mumbai be used for company
  10. Eway and e invoicing in condition where 4 party ar

More recent discussions | Post

Related Topics :

Loading