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Income tax on Fixed Deposits.

This query is : Resolved 

10 December 2009 What is the Income Tax applicable on Fixed Deposits?
Why & when do Banks cut TDS?
How do I stramline the TDS in my regular returns?

10 December 2009 INCOME TAX WILL BE APPLICABLE ON FD's.

UNDER THE HEAD INCOME FROM OTHER SOURCE,
TDS WILL BE DEDUTED ON THE INTEREST INCOME AT THE TIME OF PAYMENT OF INTEREST AMOUNT IS MORE RS 10000 FROM A SINGLE BRANCH.

INCOME CAN BE SHOWN ACCORDING TO ACCURAL OR CASH BASIS,


10 December 2009 Yes principal amount received on maturity not taxable. Interest on the same liable for tax.


10 December 2009 Agree



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