Fix deposit

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devesh (Querist)
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10 September 2014 how IT dept calculates one year for calculating tax on the interest on fix deposits? Kindly explain with illustrative example.

CS,CA F,Numrologi TusharSampat (Expert)
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10 September 2014 if fd is with bank then int in excess of 10,000 is taxable @ 10%

if other then if in excess of 5,000 then is taxable @ 10%

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