TaxTMI 
TaxTMI 
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
FDR Interest
21 Aug 2018 
2 Replies 
1231 Views Asked by
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)
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)
