POSTED BY April 12, 2012 4:32 pm COMMENTS (3)ON
I had invested 100000 /- Rs in FD the intrest earned is less than 10000 /-rs
Bank has not deducted TDS (becuase it is less than 10000), is this exempted from income Tax
If not do we need show this on ITR form while Filing IT return.
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3 replies on this article “TAX on FD intrest”
Dear Rajesh, Yes this FD interest is taxable if it’s a regular Resident Indian FD. The same is to be reported in your Income Tax return & you should pay tax on it.
I meant regular FDs.
NRE FDs are tax exempt, btw.
All Bank FD interest is taxable at the individual rate. Although TDS has not been done by bank you must declare this in ITR and pay tax.