Is tax saver Fixed Deposit return taxable?

G

guesswho

New Member
#1
#1
Hello,

I want to invest in Fixed deposit which gives me benefit of tax saving under income tax section 80C, with period of 5 years deposit.

My question is after 5 year do I need to pay tax on return of such deposit?
or
Is return of such fixed deposit taxable?

Thanks
 
A

aca_trader

Active Member
#2
#2
guesswho said:
Hello,

I want to invest in Fixed deposit which gives me benefit of tax saving under income tax section 80C, with period of 5 years deposit.

My question is after 5 year do I need to pay tax on return of such deposit?
or
Is return of such fixed deposit taxable?

Thanks
Click to expand...
As of today it's taxable and in Future India may move to ETT regime whereby even the withdrawl of original deposit will be taxable. (A move favoured by current FM)

Best Regards,
--Ashish
 
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