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.