I want to know whether interest earned under tax saving fixed deposits are taxable or not?
ramanncharyulu
(accounts officer)
(38 Points)
Replied 17 June 2010
Interest income earned from Tax savings fixed deposit
are interest part taxable. If interest income received/earned
Rs. 10000/- in the financial year TDS will be deducted
by the bank @ 10%
Ramanncharyulu
hyponkshe
(chartered accountants)
(73 Points)
Replied 17 June 2010
interest income earned on bank fixed deposits qualifying u/s 80C is fully taxable
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