Taxation of Fixed Deposit

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  1. Vishal Chaudhari

    Vishal Chaudhari New Member

    I have a fixed deposit which matures in Dec 2016. The deposit was made for a tenure of 1000 days. Is the total amount (Principal + Interest earned) that I will recieve on maturity taxable or is only the Interest earned taxable?
     
  2. Neelam Chhalani

    Neelam Chhalani New Member

    interest earned is taxable
     
  3. INVESTURU

    INVESTURU Member

    As per the provisions of the income tax act read with its rules, for the purpose of taxability of interest on FDR matured in future or after the last date of the relevant financial year:-
    you should get interest certificate from the bank for relevant financial year, it is your fundamental right and has no fees or charges.
    I think this will be a better option for you.
     
  4. Vishal Chaudhari

    Vishal Chaudhari New Member

    Thanks a lot for your replies :)
     
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