Tds on interest on fixed deposit of trust

This query is : Resolved

S.V.Mehta

S.V.Mehta (Querist)
Follow

06 April 2016 Hello, I am CA Saloni MEhta
I am working with co-Operative Bank
My question is:

Whether bank should deduct TDS on interest on fixed deposit of trust?
Can trust fill 15G for non deduction of TDS on interest on Fixed Deposit?

Please Guide.

S.V.Mehta

S.V.Mehta (Querist)
Follow

06 April 2016 Please guide on above

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
Follow

06 April 2016 Yes, Bank has to deduct TDS on FD Interest Income of Trust..

Form No 15G: Only a person who is resident in India can submit Form No. 15G. Any person other than a company can submit Form No. 15 G. So any individual, HUF, Trust, Association of Persons or Body of Individuals can submit Form No. 15G.

Message likes : 1 times

Upgrade to CAclubindia Pro. Subscribe Now!