Fixed Deposit for leased amount of 10 lakh.

Hi i have recieved 10 lakh from leasing my old home. If I fixed deposit 10 lakh will I have to pay tax.

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Suri.Sravan Kumar (senior) 16 May 2018

if the interest exceeds Rs 10,000/- p.a. you will have to pay tax. Since the deposit amount is 10 lakh, the interest amount will be more than 10,000/- so it will attract TDS. Consult a good financial advisor for proper and appropriate advice in your matter

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