Tds on bank interest
This query is : Resolved
pvsrikanth
(Querist)
28 October 2011
DEAR SIR,
I HAVE DONE FIXED DEPOSITS IN THE BANK ON THE NAME OF SINIOR CITIZENS. WE HAVE DONE DEPOSITS FOR THE YEAR 21010-11 IS BELOW ONE LAKH. CURRENT YEAR i.e 2011-APRILS ONWARDS TILL DATE 90000/-. BANK WILL CUT TDS IF FORM 15 H IS GIVEN. TDS WILL BE CHARGED YEAR WISE ONLY OR THEY WILL CLUB ALL YEARS. FORM 15 H IS FOR WHAT. IF ANY OTHER INVESTMENTS MADE IN THE BANK WILL THEY ADD IT TO THAT FIXED DEPOSITS AND CHECK THE INTEREST AMOUNT. IF THE DEDUCT NOW AT THE RETURN SUBMISSION WE WILL PAY ONLY AFTER TDS AMOUNT TAXABLE OR NOT?
I HAVE DONE FIXED DEPOSITS IN THE BANK ON THE NAME OF SINIOR CITIZENS. WE HAVE DONE DEPOSITS FOR THE YEAR 21010-11 IS BELOW ONE LAKH. CURRENT YEAR i.e 2011-APRILS ONWARDS TILL DATE 90000/-. BANK WILL CUT TDS IF FORM 15 H IS GIVEN. TDS WILL BE CHARGED YEAR WISE ONLY OR THEY WILL CLUB ALL YEARS. FORM 15 H IS FOR WHAT. IF ANY OTHER INVESTMENTS MADE IN THE BANK WILL THEY ADD IT TO THAT FIXED DEPOSITS AND CHECK THE INTEREST AMOUNT. IF THE DEDUCT NOW AT THE RETURN SUBMISSION WE WILL PAY ONLY AFTER TDS AMOUNT TAXABLE OR NOT?
Ram Avtar Singh
(Expert)
28 October 2011
Please provide PAN NO. To banker the will not deduct TDS otherwise 20% TDS applicable.
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