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TDS on FD interest

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 July 2010 Can we deduct the TDS on FD interest against total tax liablity.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
10 July 2010 NO. ONLY @ PRESCRIBED RATES.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
10 July 2010 If the assessee has offered income/loss under more than one head, and the FD interest is also offered for taxation, then TDS on interest can be deducted from the total tax liability.
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CA.Mini

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CA.Mini (Expert)
10 July 2010 if FD interest is declared in the return then the TDS deducted can be claimed from the tax liability.

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