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FDR Interest

J eswar

Sir, we are running into losses for the past 3 years. Is interest income is to be taxed seperately and and can not be setoff against current/previous year losses. ? Kindly clarify. Thanks

Interest income taxation: interest on fixed deposits is not taxed separately under income tax principles. A query asked whether fixed deposit interest is taxed separately and whether it may not be set off against current or prior year losses. Both expert replies state that interest will not be taxed separately; no further guidance on set off mechanics is provided. (AI Summary)
Income Tax
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Ganeshan Kalyani on Aug 21, 2018

In my view, Interest will not be taxed separately.

DR.MARIAPPAN GOVINDARAJAN on Aug 21, 2018

No. interest will not be taxed separately.

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