In this article you will find the interest rates provided by major banks in India on the Tax Saver 5 year FD option provided by them. These interest rates are as on last updated by the respective websites.
According to the provisions of Income Tax Act, loss under the head capital gain i.e. capital loss, can be adjusted against the other capital gains. Additionally, the balance amount of loss after adjustment can be carried forward to next year. Let us understand the provisions in detail.
In the interim Budget 2019, Finance Minister has proposed to increase the limit of Fixed Deposit TDS from Rs. 10,000 to Rs. 40,000. However, this amendment is proposed only for the depositors having age below 60 years and no change in case of Senior Citizens.
Yesterday, our Finance Minister Mr. Piyush Goyal presented an interim budget for 2019-20. In the budget presented by him, he proposed to grant full tax rebate on Taxable Income up to Rs. 5,00,000. It is a rebate and not an exemption.
Following changes have been proposed to be implemented from FY 2019-20 for individual Tax Payer perspective.