Tds on fdr
This query is : Resolved
12 July 2012
Dear Sir,
I want to know that when will bank deduct tds on fdr ,i.e. its deducted on mature of fd and is it deducted on above rs. 10000p.a.
I want to know that when will bank deduct tds on fdr ,i.e. its deducted on mature of fd and is it deducted on above rs. 10000p.a.
12 July 2012
1. TDS on interest on FDR is dealt with Section 194A.
2. As per Section 194A TDS is required to be deducted if the amount of interest during the year exceeds Rs. 10,000.
3. TDS is deducted on a monthly basis on accrual basis and NOT at the time of maturity.
2. As per Section 194A TDS is required to be deducted if the amount of interest during the year exceeds Rs. 10,000.
3. TDS is deducted on a monthly basis on accrual basis and NOT at the time of maturity.
12 July 2012
agree with siddhartha.
but limit of tds on fd Rs 10000 per bank branch.
but limit of tds on fd Rs 10000 per bank branch.
12 July 2012
Mr.Kartik,
TDS is not deducted at the time of maturity but it is deducted accoridng to the scheme of the FD.
If it is monthly compounding then monthly, quarterly compounding then quarterly or if it is yearly then yearly TDS is deducted.
TDS is not deducted at the time of maturity but it is deducted accoridng to the scheme of the FD.
If it is monthly compounding then monthly, quarterly compounding then quarterly or if it is yearly then yearly TDS is deducted.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
