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FD's for more than one year

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 February 2011 for FD's for more than one year , do we need to get statement (so call form 16A) of interest accrual on these fd's for each financial year from respective bank as interest that would different as compounded quarterly.
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Ravikant

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Ravikant (Expert)
02 February 2011 If Interest earned exceeds Rs.10,000 in a year banks deduct TDS and will issue you Form 16A for claiming TDS
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