Tds on fd
This query is : Resolved
jitu parmar
(Querist)
18 October 2013
if there is any one shareholder of coop bank than in that case if he receive interest on fd with is more than 10,000 pa wheather tds will be applicable on the above amt
CA Pallav Singhania
(Expert)
18 October 2013
If the total interest earned on all your fixed deposits in a bank is greater than Rs. 10,000 in a financial year, you are liable for TDS and the banks will deduct the income tax at source.
TDS is deduced at applicable rate OR 20% whichever is higher is deducted where PAN is not registered with Bank.
TDS is deduced at applicable rate OR 20% whichever is higher is deducted where PAN is not registered with Bank.
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