If my interest in FY 2013-14 is 11000, then how much TDS the bank should apply? 110 (10% on excess of 10,000) or 1100 (10% on whole amount of interest)?
Thanks!
Fenil Shah
(Audit & Tax Executive)
(402 Points)
Replied 27 June 2014
TDS will be on whole amount, i.e Rs. 11,000 @ 10%.
NILA REJESH P
(Chartered Accountant)
(815 Points)
Replied 27 June 2014
Rs. 1100. TDS apply on hole amount
ursmitesh
(CA Practice )
(126 Points)
Replied 27 June 2014
Kamlesh S Manral
(CA Job)
(21 Points)
Replied 27 June 2014
maharaj
(accountant)
(165 Points)
Replied 28 June 2014
If you under 60 you can submit the form 15G or above submit the form 15H for non-deduction of TDS. One think is also that Int. from Savings Bank A/C holder can claim deduction u/s 80TTA upto Rs.10000/-.
Vinay Dubey
(Dy.Manager)
(41 Points)
Replied 10 July 2014
Dear Sir,
kindly arrange to send form ITR-1 & ITR-2 excel base utility for the A.Y. 2014-15.
Thanks & Regards,
Vinay Dubey