deduction
This query is : Resolved
04 February 2009
my dad taken STD(short term deposit) for 12lakhs and saving account. both got interest of 191974 for 2008-09 financial year.
plz can anyone tell how much is deducted for tax.
is there any exemption for saving account interest.
plz can anyone tell how much is deducted for tax.
is there any exemption for saving account interest.
04 February 2009
Yes, tax at source is to be deducted on Term Deposits only.
Guest
Guest
(Expert)
04 February 2009
TDS will be deducted @ 10.30% in your account. There is no such exemption from TDS for saving account. If the total income of your dad is below taxable limit then you can file the declaration for non deduction of tax to the bank.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
