| Originally posted by : CA Navin Jain | ||
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THANKS FOR SHARING WITH US |
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I have a fixed deposit with a bank which is subject to TDS.The bank informed me (subsequently given a TDS certificate also) deducting only 10% without deducting education cess.On enquiry they told me that their H.O has directed them that only 10% need to be deducted & there is no need to deduct tax.Are banks exempted from deducting education cess or the TDS includes education cess also?I will be greatefull if can clarify.
S.Sureshkrishnan-Articled assistant
CAclubindia
