12 November 2011
I have made a FD of Rs 34000 3 years ago and maturity value was Rs 44192 at the end of 3 years....TDS has been deducted around Rs 1115 on Maturity Vale... I wants 2 kno.....whether they are correct for deducting TDS on Interest on FD....as i things they are incorrect bcoz as per I.T. Rules u/s 192A " Any bank who make a payment of interest other than securites exceeding Rs 10000 than TDS @ 10% is to deducted. Also, i hve not deposited a PAN Card in the bank than in such case bank can deduct 20% ... Please help me out regarding this matter
12 November 2011
firstly, they must issued u tds certificate form 16a. in that without ur pan.....how they issue. and applicable rate of tds @10% only no ed/sc. so on 10192 only 1020 need to be deducted if pan provided not 1115.
CAclubindia
