TDS on FD interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 July 2010
Can we deduct the TDS on FD interest against total tax liablity.
10 July 2010
NO. ONLY @ PRESCRIBED RATES.
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10 July 2010
If the assessee has offered income/loss under more than one head, and the FD interest is also offered for taxation, then TDS on interest can be deducted from the total tax liability.
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10 July 2010
if FD interest is declared in the return then the TDS deducted can be claimed from the tax liability.
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