Accrued interest
This query is : Resolved
04 February 2014
An Individual - A male has fixed deposit of Rs.50000/- for 3 years. maturity value will be Rs.65000/-
for the first year I made provision for accrued interest Rs.5000/- (15000/3)
My total income is Rs. 180000/- and Rs. 5000/- accrued interest..total Rs.180000/-...now please tell as per tax slab 2013-14 my income is taxable or not..
whether accrued interest bears separate tax..
for the first year I made provision for accrued interest Rs.5000/- (15000/3)
My total income is Rs. 180000/- and Rs. 5000/- accrued interest..total Rs.180000/-...now please tell as per tax slab 2013-14 my income is taxable or not..
whether accrued interest bears separate tax..
05 February 2014
The accrued interest is included in other income. The tax on Rs.185,000 is nil. (Limit is 200,000)
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