Easy Office
LCI Learning

Regarding Fix Deposit

This query is : Resolved 

27 August 2009 Actually i want to FDR r shown in incometax return is interest on fdr is taxable or not,
if taxable in which section it is taxable

how can it calculate

27 August 2009 yes it is taxable. It will be taxable as other source income u/s 56.

Generally there are two methods of accounting & tax liability:

01. Make the entry for accured income each year & pay tax on the basis of accrual.
02. Make the entry on receipt basis & pay tax in the year of interest received.




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries




Answer Query