Tax Exemption for Interest on Fixed Deposit

Share
Share This Thread
  1. rexy varghese

    rexy varghese New Member

    sir,
    what is the maximum interest income on fdr with banks which qualify for tax exemption?
     
  2. Aditi Gulati

    Aditi Gulati Active Member

    There is no tax exemption on the amount of interest earned on Fixed Deposit. The total interest earned would be liable to tax as per the income tax return.

    A deduction of Rs. 10,000 is allowed for the interest earned on Savings account but not on Fixed Deposit.
     
    ucm likes this.
  3. i agree with Aditi
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Interest exemption of home loan Income Tax Mar 2, 2018
Tax exemption on interest received on PPF account Income Tax Oct 12, 2017
Interest Exemption for self occupied property, not yet registered but living there Income Tax Jul 19, 2017
Home loan interest exemption Income Tax May 3, 2017
Exemption of Interest Payment u/s 234 towards Capital Gains Income Tax Mar 14, 2017