If you invest in a taxable investment like a bank fixed deposit (FD), recurring deposit or company deposit, the interest you earn gets taxed.
In most fixed-income products, unless it's a tax-free investment, since the interest income earned during the year has to be added to your income it will be taxed. In other words, the interest income is entirely taxable as per the individual's income tax rate of 5.2 percent, 20.8 percent or 31.2 percent including a surcharge of 4 percent
75 years to reach per capita income of $2730, will take only 5 years to add another $2000, FM Sitharaman
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