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Tds on cliam amount from railway

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 March 2014 Amount received from railway as accidental cliam and deposited into the bank as 'Fixed Deposit' on the name of minor and it will be matured when minor attening the age of 21. whether intrest income accrued on this minor FD amount will be liable to tds. please give me your valuable suggestion.....
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Akash Barman

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Akash Barman (Expert)
16 March 2014 Yes TDS to be deducted if INTEREST ON FD(i.e other than securities) exceeds Rs 10000 .
TDS to be deducted @ 10%.
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