Tds on bank deposits
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 September 2018
-Banks are deducting TDS @ 10% on gross interest on FD and do not take into account the exempted income of Rs 3lakhs (for Sr citizens) and deductions under sec 80.They also do not consider rebate u/s 87 A .With the result. While there is no tax or very little tax the TDS. Is very high .And then then apply for refund
They do not accept form15H also.What to do? The income is only from Bank interest from this one Bank .very
They do not accept form15H also.What to do? The income is only from Bank interest from this one Bank .very
06 September 2018
Try for a ' lower rate deduction certificate' form the income tax officer and give it
to bank.
to bank.
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