30 January 2014
At present all banks are deducting Tax at source at the time of payment/credit of interest on term deposit.The form 16A issued by the banks does not contain details of tax deducted depositwise in the case of multiple deposits with the same .This causes considerable hardship to depositors. how to avoid this problem
30 January 2014
Request the bank to provide you with a detailed interest certificate. Int on all deposit accounts will be mentioned in the certificate.
Then you can calculate TDS @ 10% on the interest amount.
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