Tds on bank interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 February 2013
I HAVE BOOKED A F.D. WITH BANK FOR 450 DAYS. LETS ASSUMED, INTEREST PAYABLE ON MATURITY IS RS. 15000. BUT AS ON 31ST MARCH INTT. PAYABLE IS RS.9500/-. I WANNA TO ASK WHETHER TDS WILL BE EFFECTED? IF YES, WHEN, EITHER ON MATURITY DATE OR BEFORE?
18 February 2013
No tds will be deducted as interest amount is less then Rs.10000 pa.
Provided this is the only interest income you are getting from this branch of the bank.
Provided this is the only interest income you are getting from this branch of the bank.
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 February 2013
But On Maturity, Interest will be more than 10000/-, why no tds should be deducted?
19 February 2013
You have to check interest earned per annum. As it is below Rs.10,000 tds will not be deducted.
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