20 July 2011
Sir, if there is a FD for a long term then what is the treatment 4 matured amount in curret nd DTC... If any special treatment then what is long term period for FDs....
Will maturity amt of a long term FD consider as capital gain...
20 July 2011
Dear Shilvi, Please understand the fact that the FD is not a Capital Asset as such.
Further source money of the Fixed Deposit has already been taxed in the year in which it was earned (it may have exempt also).
Therefore maturity amount is not taxable as such. Only interest earned on the above is taxable as explained by Navin above.
However if the FD was done for tax exemption u/s 80 and matured within the lockin period then only the maturity amount will be taxable in the hands of recipient as it would have been taxed if no deduction would have been allowed.
29 July 2011
Sir, today, a news about ca course has been published....... Is CA dgree considered as post gradution....?? If yes then it is considered dat we hav qualify gradution and post gradution...... There will no need to do B.Com and M.Com...... Is it true......???
CAclubindia
