About Bank deposit
This query is : Open
22 February 2017
Respected sir
I earn RS 5200 pm from an office job. recently I have sold a land for RS 7 lakh. and I have a FD of RS 1 lakh running. My question is if I put that 7 lakh amount on 7 separate banks as FD of 1 lakh each then will TDS be deducted from any of the bank or ITDept...
as my total interest receipt amount exceeds the TDS limit of RS 10000.
22 February 2017
The tds limits will be calculated bank wise. If the interest from any bank crosses the lower limit then the tds will be deducted only by that bank and not others.
22 February 2017
Thanks for your valuable comment
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