Name: Rahul Lalwani & Company
Address: B-3, Abhinandan Galaxy, Basantpur, Rajnandgaon, Chhattisgarh, 491441, IN
Telephone: +91-7000629724
Price range: ₹₹

Question 1

Is FD interest taxable?

Accepted Answer

Yes — FD interest is fully taxable as income from other sources. TDS applies once interest crosses ₹40,000 (₹50,000 for senior citizens) per bank per year.

Question 2

Can I break my FD early?

Accepted Answer

Yes, but premature withdrawal usually attracts a penalty of 0.5%–1% on the applicable rate.

Question 3

Are senior citizen FDs better?

Accepted Answer

Senior citizens get 0.25%–0.75% additional interest at most banks, plus a higher TDS threshold.

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