Fixed Deposit Interest FY 2021-22 Exemption Limit

This query is : Resolved 
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For the financial year 2021-22, individuals under 60 years old with fixed deposits can benefit from an exemption on Tax Deducted at Source (TDS) on interest earned. The limit for this exemption, meaning the amount of interest income before TDS is deducted by the bank, has been confirmed as £40,000 per annum. This increase to £40,000 is effective from April 1, 2019, as per the Finance Act 2019.

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(Querist)
29 July 2021 FY 2021-22

X (below 60 Years ) having Fixed Deposit with bank?

What is the Exemption limit when bank will not deduct TDS ?
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CMA Poornima Madhava

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CMA Poornima Madhava (Expert)
29 July 2021 No TDS on interest up to ₹40k pa
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seeta

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seeta (Querist)
29 July 2021 But limit is 10000/- or 40000/-

Pls confirm
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CMA Poornima Madhava

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CMA Poornima Madhava (Expert)
29 July 2021 It has been increased to 40k w.e.f. AY20-21 I think.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
29 July 2021 @ Seeta
Limit is 40,000 w.e.f 1-4-2019 per Finance Act 2019.
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