Regarding fd

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nisha mistry (Querist)
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26 September 2016 respected sir i wants know about tds penalty if i invest 1 lakes for 1 year rate of interest is 7.25 that is means i received interest 7250 then a wants to make it other fd is 50000 and i received 3625 ok then total cost is 10875 so bank deduct my tds or not its charge for as same financial year if or may i choose 2 year plan then its charge for divide in 2 year please advise me.

Unnikrishnan B

Unnikrishnan B (Expert)
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26 September 2016 If the interest crosses 10000/- bank will deduct tds but you can submit 15 g then bank will not deduct TDs if you have a valid pan number

nisha mistry

nisha mistry (Querist)
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26 September 2016 thank u so much sir for giving me answer.i submit last year 15 g on this year i submit after finish this month. its ok for me. i have also pan card.

Unnikrishnan B

Unnikrishnan B (Expert)
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26 September 2016 As per rule 15 G to be submitted in the month if April every year .at least before deducting TDS

Unnikrishnan B

Unnikrishnan B (Expert)
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26 September 2016 Kindly contact the branch and if TDs is already deducted you can apply for refund

nisha mistry

nisha mistry (Querist)
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27 September 2016 thanks but let me confirm prev year i earn intrest rs: 9200/- and i ask at bank exe he told me last year submit in april so this year also u submit after april or may. its right or wrong for me.

Unnikrishnan B

Unnikrishnan B (Expert)
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27 September 2016 15G to submitted every year.if interest us 9200/- then that year tds will not be deducted.
I hope all the doubt cleared

nisha mistry

nisha mistry (Querist)
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27 September 2016 thanks i have also one confusion if i invest 1.5 laks for 1 year then intrest is 10575 for current financial year but if i invest for 2 year for 1 laks same intrest so earn amout is divied in 2 year or counted as one year intrest or two financial year.

Unnikrishnan B

Unnikrishnan B (Expert)
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27 September 2016 Interest for one FY is counted (from April 1st to march 31 st)
Check interest is above 10000/- then TDS is deducted otherwise not.

In your case if fd for two years deposited Rs 1 lac then per FY intrest will nit cross 10000/- per FY .no tds will be deducted

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