How to save tds on fd in bank
Albert Desouja (B.Com) (78 Points)
14 February 2013Albert Desouja (B.Com) (78 Points)
14 February 2013
CA Raviteja
(Risk Management)
(585 Points)
Replied 14 February 2013
Mr. Albert, if you are asking about Fixed deposit with bank which is deductible u/s 80C, then maximum limit is Rs.1,00,000/-.
Bank will deduct TDS if the total interest paid in that particular year is more than Rs.10,000/-.
ensure interest which you receive at maturity is not more than above amount.
Regarding PAN, it is compulsory to provide PAN for opening Tax saving deposit. Neverthless, now-a-days for any account, PAN must be provided (if available).
If you do not have PAN, then u give declaration in form 60/61.
If you have PAN and do not submit, then TDS @ flat 20% will be deducted. However, it will not be credited in your Form 26AS unless you provide your PAN.
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 14 February 2013
Originally posted by : CA Raviteja | ||
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Mr. Albert, if you are asking about Fixed deposit with bank which is deductible u/s 80C, then maximum limit is Rs.1,00,000/-. Bank will deduct TDS if the total interest paid in that particular year is more than Rs.10,000/-. ensure interest which you receive at maturity is not more than above amount. Regarding PAN, it is compulsory to provide PAN for opening Tax saving deposit. Neverthless, now-a-days for any account, PAN must be provided (if available). If you do not have PAN, then u give declaration in form 60/61. If you have PAN and do not submit, then TDS @ flat 20% will be deducted. However, it will not be credited in your Form 26AS unless you provide your PAN. |
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Albert Desouja
(B.Com)
(78 Points)
Replied 14 February 2013
Dear Sir,
Thanks for the reply. Now I will invest money less than 100000 so that bank will not deduct TDS but please guide me what if I give declaration in Form 60 instead of PAN Details while having Pan Card is it crime because still bank ask me for pan card details or form 60 for opening FD account but I dont want to give my pan details.
Thanks
Albert Desouja
CA Raviteja
(Risk Management)
(585 Points)
Replied 14 February 2013
Originally posted by : CA Prashant Gupta | ||
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submit 15G or 15H |
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