URGENT HELP

Vaibhav137 (Student) (74 Points)

20 July 2011

A person who invest 100000 rupees in a bank, @ 9.25% for 4 years,is it TDS applicable there? and if yes than how to save it?

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3 Replies

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 20 July 2011

tds is to be deducted by bank if total interest during the year exceeds 10000

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 20 July 2011

if you want to save TDS THAN MAKE 2 FD'S IN DIFFERENT BANKS

Suraj Agarwal (Self Practitioner in Income Tax & GST) (782 Points)
Replied 20 July 2011

Hello Vaibhav, u can submit the form 15G / 15H, as the case may be, to save TDS Deduction.

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