Fixed Deposit Tax

[Rahul]

Are Fixed Deposit returns taxable?

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[Investorboy]

Yes, if return amount is more then or equal to 10000/-per year.
Then its taxable.

[Sanjay]

I wish to correct you. Bank interest is fully taxable whether it is below 10000/- or not. Above 10000/- bank has to deduct tax at source unless you give form 15G or 15H. Below 10K - they will not deduct tax but it is your duty to add it to your income and pay tax accordingly.