interest on fixed deposit
This query is : Resolved
29 July 2016
hello,
i want to know that when interest is taxable on fixes deposit.
suppose i have make new f.d on 18/3/2016 for 90days matured on 16/6/2016@ 6.5%,
bank bank make interest 579.
so this 579 is taxable in f.y 15-16 when accured or in 16-17 when actually matured. and i get this f.d in cash.
30 July 2016
interest to be accounted on accrual basis and not on cash basis
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