Fd transferable or not
This query is : Resolved
20 September 2014
Is tds deductible on interest earned on fd if pan not available
fd amt Rs50000 for 365 days
if yes than whether it is transferable to another person who hold pan ?
20 September 2014
Interest on FD attracts section 194A. Threshold limit is Rs 10000/- p.a. So in case of FD of Rs 50000/- TDS will not be deducted since the interest on FD will be below Rs 10000/- provided you give the PAN. You can not transfer it. In that case you need to make FD in the name of that other person whose PAN will be given.
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