Taxability
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 September 2012
Is bank deposit taxable?If so by how much?
09 September 2012
Bank deposit is not chargeable, but the interest income from such deposit is taxable.
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10 September 2012
Taxguy is correct.
Interest on FDs are fully taxable whereas interest on savings a/c is exempt upto Rs.10000 a year per assessee.
Interest on FDs are fully taxable whereas interest on savings a/c is exempt upto Rs.10000 a year per assessee.
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