Tds on f.d. interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 December 2011
I have made a Fixed deposit of Rs 34537 on 26.01.09 @ 9%p.a. for 1000 days having a Maturity Value of Rs 44091 dt 23.10.11. I have received on maturity (Net of TDS:Rs.1115) Rs 42976.My total Interest for 1000 days is Rs 9554.
I wants to kno whether bank has valid reasons for deduction of TDS u/s 192A. As my Interest on F.D. doesnt exceeds Rs 10000 in a financial year.
I wants to kno whether bank has valid reasons for deduction of TDS u/s 192A. As my Interest on F.D. doesnt exceeds Rs 10000 in a financial year.
27 December 2011
Ideally speaking, if the FD interest in one FY is less than 10000/-, the bank should not have deducted the TDS.
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