Become a Govt. Certified GST Practitioner in just 58 hours. Register Now!

Income on Fixed Deposit

Vivek Kumar (Accountant) (118 Points)

12 July 2018

Dear Sir/Madam

please help me

intrest on Fixed deposit is taxable or not

Reply
Follow
Share

11 Replies

Akhil (Student CA ) (1005 Points)
Replied 12 July 2018

yes taxable....under other sources.....

Upgrade to CAclubindia Pro. Subscribe Now!

Ravi SADhiyan (Practice) (4510 Points)
Replied 12 July 2018

Taxable under Other sources

Atin Roy (AO (Finance)) (28 Points)
Replied 12 July 2018

Fully taxable, but interest on savings account exempt upto 10000

RAJA P M ("Do the Right Thing...!!!") (128096 Points)
Replied 13 July 2018

Yes Exactly...
FD interest is taxable...

frank (owner) (131 Points)
Replied 13 July 2018

Yes FD Interest Income is taxable but there is a certain limit after which it is chargeable, please consult a good tax consultant to get a clear knowledge.

Upgrade to CAclubindia Pro. Subscribe Now!

Ravi SADhiyan (Practice) (4510 Points)
Replied 13 July 2018

Originally posted by : frank
	Yes FD Interest Income is taxable but there is a certain limit after which it is chargeable, please consult a good tax consultant to get a clear knowledge.

Dear Sir Please mentioned Certain Limit

frank (owner) (131 Points)
Replied 13 July 2018

Add the amount to your total earnings if it exceeds the limit set by the IT Dept then pay the tax honestly. That is why I mentioned consult a good tax practitioner for further knowledge.