hi
I made a FD of 6 Lakh at 8.50% for 5 years
yearly interest =Rs 51000
As your can see TDS will be deducted approx 10% after that i am left with rs 45900
My yearly income is 4 lakh
Please clarify on this
1) if tds is deducted by bank on by interest income then the remain 45900(interst after tds) is to be added to total income for tax calculation or not. (i.e 445900).
I made a FD of 6 Lakh at 8.50% for 5 years
yearly interest =Rs 51000
As your can see TDS will be deducted approx 10% after that i am left with rs 45900
My yearly income is 4 lakh
Please clarify on this
1) if tds is deducted by bank on by interest income then the remain 45900(interst after tds) is to be added to total income for tax calculation or not. (i.e 445900).