itz true that tax is put on FDs earning interest exceeding Rs.5000. But what is the tax percent on such FDs? Anyways to get deduction from such tax?
2007-03-26 18:24:16 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ India
Actually, it's Rs 50,000. For amounts less than this, file form 15H with your bank to avoid tax withholdings.
2007-03-26 21:59:01 · answer #1 · answered by Anonymous · 0⤊ 0⤋
At a fragment of a % !! relies upon on what number instruments you've and state regulation In IL, a small LL can earn interest on safe practices deposits and needn't pay interest to tenants verify your state criteria for # of instruments, etc.
2016-12-02 21:22:30 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Slab rate is applicale as FD interest is taxed under head"Income From Other Sources"
2007-03-29 01:06:10 · answer #3 · answered by Sunnykvb 1 · 0⤊ 0⤋