Sir,
please guide I think some mis understanding by bank
suppose Mr.X opened fixed deposit in pNb for one year estimate interested earned from FDR Rs.29600/- Bank Clerk ask to Mr. x filled form 15G in April month otherwise 10% TDS will be deduct. So that means TDS applicable when interest income Rs.10000 increased.
3 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 21 March 2021
In case of fixed deposits 15G should be filed by every holder for not getting TDS deducted on interest. It is mandatory
Naveen Kumar
(629 Points)
Replied 21 March 2021
So that means every bank has separate separate rules SBI is asking tdS applicable when interest income is increase 40000
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 21 March 2021
But if you submit 15G then there is no problem even if Interest doesn't exceed limit
Recent Topics
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
Related Threads
CAclubindia
