Tds charged on interest income of tax saving fds
This query is : Resolved
08 March 2014
please tell me that ....is tds to be charged on interest income earned from tax saving FDs for any year of the blocking period?? if yes, then can i save that tax amount if my net taxable income is less than rs. 2 lacs????
08 March 2014
Interest received on tax savings fixed deposits will be taxable under Income from other sources. incase your net taxable income is less than Rs.2 lakhs, then you can file the return claim refund the tds deducted on the interest amount
09 March 2014
can i fill form 15 g to avoid that tax as my gross salary income is rs. 240000/- ???
09 March 2014
Form 15 g applicable for those taxable income below the basic exemption limit, if your taxable income below Rs.2 lakhs, you are eligible for apply form 15G
09 March 2014
sorry, i wont be able to get u properly......
i still have a confusion......
my gross salary is rs.240000/- but as i have done investment under 80c/80cc, my taxable income reduces to rs.160000/- and as i have a tax saving fixed deposit of previous year and other fds, my accrued interest income would be around rs.15000/- (including the interest earned on previous year's tax saving fixed deposit), now tds to be deducted @ 10% on rs.15000/- interest income, so now tell me that what should i have to do in this situation to save tax on interest income?????
i still have a confusion......
my gross salary is rs.240000/- but as i have done investment under 80c/80cc, my taxable income reduces to rs.160000/- and as i have a tax saving fixed deposit of previous year and other fds, my accrued interest income would be around rs.15000/- (including the interest earned on previous year's tax saving fixed deposit), now tds to be deducted @ 10% on rs.15000/- interest income, so now tell me that what should i have to do in this situation to save tax on interest income?????
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
- Opting our of sec 44AD
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Copyright software
- Form 121 & TDS deduction
- Regarding TDS Applicability For Director Remuneration
- Multiple trade mark
- Transporter Declaration form
- LC charges in relation to Asset purchased should be Capitalised ?
- Regarding appeal to GSTAT
- Value of property in capital gain
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
