Wednesday, October 25, 2017

No income tax on fixed deposit if the interest rate is below RBI base rate.

क्या चाहती है  जनता 

safeguarding small saving people

No income tax on fixed deposit if the interest rate is below  RBI base rate. Give 2%plus above the base rate for FD then only Income tax department need to ask for income tax.

The government need to bring policy - to safeguard public -

Logically  FD Intrest rate should not be below RBI Base rate it should be minimum 1 % above the RBI base rate.

Income tax department CBDT should not take any tax on FD income. No income tax on fixed deposit if the interest rate is below the RBI base rate.


FD rate should not be below RBI base rate or maximum margin for a bank on FD should not be more than 0.25 on RBI base rate.

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