Education cess on fd interest
This query is : Resolved
20 July 2013
Hi,
My employer deducted the TDS on my salary properly, but my banker deducted TDS on fixed deposit only at 10 %. So while filing my ITR1 shows Rs. 60 payable as TDS. It is because of 3% edu cess and surcharge not deducted from my fixed deposit. So what should i do now. Somebody says no edu cess and surchase on bank interest on FD. But i showed this income as income from outher sources. but online computation says it is payable. Shall i pay now through online this amount and will it be okay. Please reply soon. i need to submit my IT return. It is little urgent. Help me plz
My employer deducted the TDS on my salary properly, but my banker deducted TDS on fixed deposit only at 10 %. So while filing my ITR1 shows Rs. 60 payable as TDS. It is because of 3% edu cess and surcharge not deducted from my fixed deposit. So what should i do now. Somebody says no edu cess and surchase on bank interest on FD. But i showed this income as income from outher sources. but online computation says it is payable. Shall i pay now through online this amount and will it be okay. Please reply soon. i need to submit my IT return. It is little urgent. Help me plz
20 July 2013
EDUCATION CESS AND ANY OTHER SUCH AMOUNT IS NOT DEDUCTIBLE ON FD INT.
ONLY TDS@ RATES MENTIONED @10%IS TO BE DEDUCTED.
ONLY TDS@ RATES MENTIONED @10%IS TO BE DEDUCTED.
CA Kumar Mukesh
(Expert)
20 July 2013
Agree with Tushar
You have to pay Balance Rs.60 as balance tax between TDS deducted @10% & Tax liability including EC
Agree with Tushar
You have to pay Balance Rs.60 as balance tax between TDS deducted @10% & Tax liability including EC
20 July 2013
please answer it clearly. if still i need to pay TDS for balance amount,then can i pay thru online banking and will it be mentioned in my return as self assessment tax paid.
please give clear advise
please give clear advise
20 July 2013
yes u need to pay balance online.
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