Fixed deposit interest
This query is : Resolved
08 December 2015
When my annual interest earning from fixed deposit is less than Rs. 10000 than on such interest can bank deduct tds?
I have only one fd and no other fd in any bank of same branch.
Request to please reply soon.
08 December 2015
No bank cannot deduct TDS on interest payable less than Rs. 10,000/- for F.Y.
08 December 2015
The annual interest on my fd is rs.9500
Still my banker has deducted tds.
What is the solution that I may avail.
08 December 2015
They should not deduct TDS unless Rs 10000/- threshold limit is crossed. Please check whether you have some interest from auto sweep (if you have that facility). Interest earned through auto sweep is also FD interest.
If there is only Rs 9500/- and still TDS has been deducted write a complain letter to the bank quoting provision of section 194A which clearly mentions a threshold limit of Rs 10000/-.
If there is only Rs 9500/- and still TDS has been deducted write a complain letter to the bank quoting provision of section 194A which clearly mentions a threshold limit of Rs 10000/-.
09 December 2015
Thankyou so much for the reply....
09 December 2015
Thankyou to both the experts for ur kind reply to my query
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- NRI starting business in India
- ADVANCE PAYMENT OF ADVOCATE
- Sales of goods of amount Rs97 lakhs to a party
- CREDIT NOTES WITHOUT GST
- UNWANTED CREDIT BALANCE OF GST AS PER BOOKS
- Invertaded duty struture
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
