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Auto renewal

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 September 2014 what is auto renewal while making some fixed deposit in bank.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
21 September 2014 auto renewal means that if you don't give instructions for redemption of the FD, the bank will convert the maturity amount into another FD of the same tenor on the maturity date.
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Querist : Anonymous

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Querist : Anonymous (Querist)
21 September 2014 sir my another question is during Auto renewal period whether TDS deducted or Not,
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
21 September 2014 TDS will be deducted if the interest exceed limits prescribed in 194A
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Querist : Anonymous

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Querist : Anonymous (Querist)
21 September 2014 thanks Nikhil sir reply my question.
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Querist : Anonymous

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Querist : Anonymous (Querist)
21 September 2014 thanks Nikhil sir reply my question.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
21 September 2014 you are welcome friend.............
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