Interest income - direct tax
This query is : Resolved
01 April 2016
1Q. How is interest income taxed?
Q2. What is the withholding tax rate on interest payments to foreign recipients?
Q3. Is interest expense treated as a tax-deductible expense?
Q2. What is the withholding tax rate on interest payments to foreign recipients?
Q3. Is interest expense treated as a tax-deductible expense?
05 April 2016
1.Tax must be paid by investors who receive interest income from their bonds, mutual funds, certificate of deposits (CDs) and demand deposit accounts. Some interest is fully taxable, while other forms are partially taxable.
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