• English
  • Hindi
  • Bengali
  • Marathi
  • Telugu
  • Tamil
  • Gujarati
  • Kannada
  • Odia
  • Malayalam
  • Punjabi

Is the interest earned on fixed deposit taxable?


by Mahindra Finance


December 7, 2023


1 mins read

Yes, the interest you get from your investment in a fixed deposit is fully taxable. The gains are added to your total income under the ‘income from other sources’ section, and you must furnish these details in your ITR (Income Tax Returns) while filing the returns. The interest is taxed as per the tax slab you fall under.

However, as an investor, you must know that FD is an invaluable investment in your portfolio. It is one of the safest investments in India as it gives you assured returns. Also, if you open an FD account with Mahindra Finance, you get high interest returns per annum.

Related articles

List Of Documents Required To Apply For A Car Loan

Are you ready to hit the open road in your dream car? Securing a car loan from Mahindra Finance is a smart way to turn that dream into reality. To make the application process a breeze, it’s cru...


February 5, 2024

Mahindra Finance_ What are mutual funds?

Why invest in mutual funds? A brief overview of what are Mutual Funds and Their Benefits Why invest in mutual funds? Here’s a brief overview of what they are, different types of good mutual funds an...


June 30, 2023

Overcome Top 5 Challenges Of MSME Loans In India

Running a micro, small, or medium enterprise (MSME) in India comes with its fair share of challenges. While these businesses contribute significantly to the country’s economy, accessing timely f...


April 10, 2024