Year 2014- January my bother sold a residentail house and first time submitted the ITR
as per his CA suggested he has deposited 16 Lakhs in Capital gain account before filing the ITR for financial year 2013
i.e. 28-July 14)
from july 2014 this amount is in the bank in Capital gain account (Saving type) some interest accumulated on it. but due to this interest is saving account the TDS is not deducted.
In order to earn more interest on this CG deposit he wish to put the same amount in Capital gain Fixed depost account.
But how bank will calculate the TDS
i.e. the interst accumulated in Capital Gain FD + other FD in same bank
or
Interest earned in Capital gain saving account + Capital gain FD interest + other fixed deposits interest
Totally all kind of interest in one financial year and accoringly the TDS will be paid or Saving account TDS will not be taken for calculation.
Please advise
CAclubindia
