Tds on bank fd interest income
This query is : Resolved
20 October 2014
What the tax laws say about deduction of Tax on Bank FD interest income. I believe that when the earned interest income (accrued and realised) on a particular date, may be 30th June or 30th september etc, as the case may be, exceeds Rs. 10000 tax is deducted . Am I correct ? Kindly clarify.
v.s.rajamani
v.s.rajamani
Nikhil Kaushik
(Expert)
20 October 2014
TDS is deducted on accrual/payment basis whichever is earlier....
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