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TAX ON BANK INTEREST

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(Querist)
02 July 2010 WE LIABLE IN INCOME TAX ON BANK FD & BANK INTEREST INCOME
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
02 July 2010 Interest received from Bank on Saving A/c and Fixed Deposit is taxable under the head Income from other Sources.
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Shudhanshu Agrawal

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Shudhanshu Agrawal (Expert)
02 July 2010 yes both are taxable under Income Tax Act
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
02 July 2010 yes interst on saving a/c and fixed deposit is taxable.

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