Rgarding fd
This query is : Resolved
24 September 2016
respected sir. my current salary is 11000 rs per month i save my money last one year approx 1 lakes i want make it fd
but i don't file returns so its interest come to as per 7.25 rate 7200 something foe one year so i can make to for 2 year its chargeable for one year tax or divided 2 year tax. plz advise me.
but i don't file returns so its interest come to as per 7.25 rate 7200 something foe one year so i can make to for 2 year its chargeable for one year tax or divided 2 year tax. plz advise me.
24 September 2016
In fixed deposit there are mainly two types one simple interest method and another is reinvestment method .in reinvestment method the interest is reinvested with the principal
In your case you can deposit it with any commercial bank as interest income do not cross 10000/- in any FY tds will not deduct from you,
It is better for to choose reinvestment method .
If you withdraw during the period then you will get the I interest for the period which you invested minus one percentas penalty .this is normal which may change from bank to bank
In your case you can deposit it with any commercial bank as interest income do not cross 10000/- in any FY tds will not deduct from you,
It is better for to choose reinvestment method .
If you withdraw during the period then you will get the I interest for the period which you invested minus one percentas penalty .this is normal which may change from bank to bank
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
