Matter of fd
This query is : Resolved
Guest
Guest
(Querist)
03 April 2012
gud morning to all experts,
in previous financial year (2011-2012). if interest of fd more than 10000 than bank will deduct tds @ 10%.now plz tell me today i read in newspaper. that if interest of fd more than 10000 than u can take deduction on income tax return . plz clear this
in previous financial year (2011-2012). if interest of fd more than 10000 than bank will deduct tds @ 10%.now plz tell me today i read in newspaper. that if interest of fd more than 10000 than u can take deduction on income tax return . plz clear this
03 April 2012
Please read carefully. The amendment brought in by the Budget provides that deduction will be allowed for SAVINGS BANK INTEREST upto Rs. 10,000/-.
The amendment is applicable to INTEREST ON SAVING ACCOUNT and NOT interest on FD.
The amendment is applicable to INTEREST ON SAVING ACCOUNT and NOT interest on FD.
03 April 2012
deduction for 10000- savings bank interest only deduction will be allowed for FY 12-13 Y.E. 31.3.2013 AND NOT FOR FY 11-12, BUT FD INTEREST WILL BE ADDED IN YOU TOTAL INCOME AND NO DEDUCTION CAN BE CLAIMED.
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