6 Replies to “Fixed Deposit u/s 80c, The Interest will be exempted or taxable?”

  1. If you invest the same on my name then definitly it will be exempted otherwise you please ask Mr.P.Chitambaram (finance minister)…….

  2. Good question.

    If you invest in F.D., the interest is 100% taxable under the head “Income from Other Sources”… plus, for 2007-08, if the amount of interest on fd is >Rs. 10,000, the bank will automatically deduct tds on that…. the said limit was Rs. 5,000 in 2006-07.

  3. Invest small amount. Your annual interest should not be more then 10000 other wise TDS will be deducted.

    As per current rate, do not invest more then 60,000 for 5 year.

    Though still you should show this income from FD in your return & pay tax

  4. interest on f.d is taxable under the head “income from other sources”.the benefit u get is that the amt u deposit in f.d will qualify as deduction from the gross income.

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