I have made an Fixed Deposit for which interest is more than rs.10000. I have no PAN card with me. Is there any way so than Banker do not deduct TDS.
1 Replies
Devendra
(Chartered Accountant)
(4775 Points)
Replied 16 March 2011
1) In your case TDS will be deducted @ 20% as you donot have a PAN Card. So it is advisable to apply for a PAN Card as soon as possible.
2) You can submit Form 15G, if you have no other source of income to avoid deudction of Tax at source. But the Form 15G is Invalid without a PAN Card.
Regards,
Devendra
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