TDS

kapil kumar agrawal (Chartered Accountant ) (169 Points)

27 August 2009

Is TDS to be deducted on Interest on FDR amounts to RS.12000........

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5 Replies

SSG (1936 Points)
Replied 28 August 2009

TDS is to be deducted @ 10%.

lakshit (accountant) (44 Points)
Replied 28 August 2009

U/s 194-A of the Income Tax Act, 1961 tax is to be deducted on the total of interest paid by the bank of FDR.

1. If the interest in between 10,000 the tax shall not be deducted, therefore tax shall be deducted on 12,000 @ 10%

2. From the financial year 2009-10 if receipient do not show his pan no. to the bank, then the rate of tax shall be 20%, otherwise 10%.

ashish gupta ( student) (1922 Points)
Replied 28 August 2009

TDS will be deducted.

P.K. SHAW (CS & Compliance Officer and CA Final) (59 Points)
Replied 28 August 2009

can anyone plz send me TDS calculator for the A.Y. 2010-11????

kapil kumar agrawal (Chartered Accountant ) (169 Points)
Replied 29 August 2009

thanks a lot friends......

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