Hi, let’s say I have earned interest of Rs. 10,000 from FD in a financial year

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Deal Captain
Rockstar165

Hi, let’s say I have earned interest of Rs. 10,000 from FD in a financial year. If I have taken Loan against FD and paid Rs. 1000 interest on that, can it be adjusted against the earned interest so that the final taxable amount comes out to be Rs. 9000?

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Vanguard Vanguard
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Depend on for what have you taken the loan against FD

If its personal loan then no, if any other loan line education loan,etc then yes you can adjust it according to your states tax law

Budding Star Budding Star
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you forgot to mention about your applicable category (salaried/business/huf etc.)

Talk-Of-The-Town Talk-Of-The-Town
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Hey guys need some clarification

I have 4lakhs worth of fds and nsc in post officr

And also I am maintaining 2.9lakh worth of fd of small to big tenure in au bank

I just checked my ais and got to know that post office has deducted TDS of 10000 something in previous financial years

I want to know how can I avoid it

Also many of my banks have not reported anything yet including au bank

I know form 15g need to be filled but I am confused on how to fill this and when

Deal Major Deal Major
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Form 15G/H needs to be submitted beginning new financial year ie April

For banks they have online submission check website and app

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