Tds on bank fd interest income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 December 2014
Bank has reviewed FD interest on 30.06.2014. Accrued and paid interest on my FDs is less than Rs.10000 as on 30.06.2014. But the Bank has taken the projected interest (payable upto 31.03.2015 and as this projected interest is more than Rs.10000 they have deducted TDS in their review on 30.06.2014. Whether the Bank is correct in taking Projected interest and deducting Tax (TDS)?
09 December 2014
Yes. The bank is correct. Since from the investment in FD it is clear than interest per annum will cross the threshold limit of Rs 10000/- the bank is correct in deducting TDS.
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
- Can we claim ITC in 28%
- Forgot to update debit note in gst
- Relief Calculation u/s 89 of ITax 1961 in TableA Form10E
- Sale of Gold ornaments
- Can we issue an invoice today
- SALE OF GOODS FROM OTHER STATE
- Accounting Policies changes
- Ca final exam registration may-26
- Expenses add back in profit
- CA Final exam Form
- Tds on GST in connection with sale to public company
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- 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
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
