09 August 2012
If we made fixed deposit in any one bank example in the name of KVB Bank. Deposit amount Rs 6,00,000/- Interest rate 7%, Period of deposit 15 Days ( Interest will come at the time of maturity Rs 1,727/-) and Rs 6,00,000/-, Interest Rate 7.5%, Period of Deposit 105 Days (interest will come at the time of maturity Rs 12,945/-). My doubt is When bankers can deduct TDS on Interest? When the interest value cross Rs 10,000/- or They can deduct 10% TDS from first deposit interest Rs 1,727/-. Please Reply friends.
CAclubindia
