Topic: Will I have to pay tax on the amount that I invested in fixed deposit after maturity?

I have taken fixed deposit for a term of 4 years. I shall receive the entire amount on maturity. Do I need to pay the taxes after 4 years when i receive to amount on maturity?

This message was edited 1 time. Last update was at 30/06/2009 09:20:44

In case of fixed deposits interest keeps on accruing every year and should be taxed every year though entire amount is received on maturity. Further banks shall deduct TDS at 10% if the total interest accrued during the year exceeds Rs.10,000. To claim the credit of tax so deducted you need to include the interest as well as the TDS so deducted in your tax return every year.
Download free income tax calculator

i got job in uganda please tell me hoe much tax i should be pay to uganda goverment according to law

Fields marked * are mandatory
Got a question?
Just fill in the following:
Name*		E-Mail*
Phone No.*		City
Message (up to 1000 characters)