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Tds rates

TDS / TCS 826 views 7 replies

If a person is getting Rs. 6000 interest half yearly on Fixed Deposit of a bank and it matures, will TDS be deducted. 

Replies (7)

Yes it will be deducted...on full amount of intrest... @ 10%.....

No TDS is not deducted because cut off limit of TDS u/s- 194A (INTEREST OTHER THAN ON SECURITIES (BY BANK)) for "Interest received from bank is rs. 10,000/- in a year " (for F.Y.-2013-14 on wards) and in present case the int. is so recd. on F.D. from  bank & it matures in 6 months and int. recd is only rs 6,000/- which is bellow the cut-off limit.Therefor TDS is not deducted

 

Yes, I am fully agree with Mr. Parag.

No TDS

-194A Applies

- Cut Off is Rs.10000-

yes.. no tds..

i missed the "it matures in 6 mnths" part cheeky..

The limit of 10000 is for saving interest and not for fd interest.hence tds is applicable.

Dear all,,,,,,,,,,,,,,

If you have any opening in account, kindly tell me......... i am looking for the change..plz....plz

 

my mail id - chouhan92 @ gmail.com

mob -9873748032

thanks & regards


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