Interest on fd renewed

shanthi (Querist) 20 June 2012 This query is : Resolved
I have renewed my FD since past two years and i have taken interest upto renewal as income from other sources. Is it right. If no then whats the solution???
Kindly give ur advice

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Anirudh (Expert) 20 June 2012
You have done absolutely correctly.

mahendrakumar (Expert) 21 June 2012
actually what is your query?

shanthi (Querist) 21 June 2012
Suppose my Fd is of 100000/- made on sept 09 and on sept 10 value of Fd was 106385 which was renewed. So i have taken 6385/- as interest income for F. Y 10-11. Is it right?

Shonee Kapoor (Expert) 21 June 2012
Yes.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

mahendrakumar (Expert) 22 June 2012
still,I have not understood your query?

is it related to income tax?

usually while renewing an fd one can renew it as he/she like by reinvesting the entire amount or the principal

sanjeev kumar goel (Expert) 19 January 2016
Dear Shanthi you have taken interest on FD rightly as per the provisions of Income Tax Act. There is no mistake. Even claim TDS also if deducted on renewal.

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