What happens if we withdraw Fixed Deposit from one bank and invest the same in another bank? May be for better rate of interest or for nearness or for bad service etc.? Actually, it is a case of renewal but the new Bank do not know the same. For them, it is the new Fixed Deposit only. This can create problems to the people. more
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Irrespective ofthe amount of FDs you invest, interest from savings bank accounts is exempt to the extent of Rs 10,000/- more
Jan 11
whether you put fd in bank & cancel that & put in other bank, but total interest earned is important, because you are giving pan card to all banks. more
Jan 10
All interests fro FDs are "income from other sourcs". They have to be added to the Total income. Investments under 80 C up to Rs 1.5 lacs is exempt. The limit of taxable income for super senior citizens start above Rs. 5 lacs more
Jan 08
Please advise as to what is the yearly (income tax) exemption limit for interest on Fixed Deposit in a bank. Is there a higher limit for Senior citizens (Above 60 or 70 years). more
Jan 08