if a person claimed deduction in u/s 80c for deposit of fd in sbi bank of rs 100000.
then interest on such income will be taxable in income from other sources ?
Yes.
Such tax saving deposits come under, 'Bank Term Deposit Scheme, 2006’. As per Rule 15 of the said scheme, interest is taxable and TDS shall be deducted as per Sec. 194A.
CAclubindia
