Fixed term deposit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 April 2012 Suppose If aperson make a Fixed Term Deposit of amount of 30000 for 3 years in SBI using Internet Banking.For that he have to be pay some tax?
If the FTD is made directly through the bank then also ?
What is the difference between these two cases?
Please tell me.

CA Prashant Gupta

CA Prashant Gupta (Expert)
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08 April 2012 There are no taxes liable while making the FDR though Net banking.

Please clarify the issue with bank.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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08 April 2012 Agreed with Prashantji,

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Mihir Doshi

Mihir Doshi (Expert)
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09 April 2012 There is no difference between making direct deposit through bank or through net banking. Net banking saves your time and money to visit the bank.

No bank will deduct any taxes on opening of any Term Fixed Deposit.

Thanks
Mihir Doshi