Tds on fdr
This query is : Resolved
12 July 2012
Dear Sir,
I want to know that when will bank deduct tds on fdr ,i.e. its deducted on mature of fd and is it deducted on above rs. 10000p.a.
I want to know that when will bank deduct tds on fdr ,i.e. its deducted on mature of fd and is it deducted on above rs. 10000p.a.
12 July 2012
1. TDS on interest on FDR is dealt with Section 194A.
2. As per Section 194A TDS is required to be deducted if the amount of interest during the year exceeds Rs. 10,000.
3. TDS is deducted on a monthly basis on accrual basis and NOT at the time of maturity.
2. As per Section 194A TDS is required to be deducted if the amount of interest during the year exceeds Rs. 10,000.
3. TDS is deducted on a monthly basis on accrual basis and NOT at the time of maturity.
12 July 2012
agree with siddhartha.
but limit of tds on fd Rs 10000 per bank branch.
but limit of tds on fd Rs 10000 per bank branch.
12 July 2012
Mr.Kartik,
TDS is not deducted at the time of maturity but it is deducted accoridng to the scheme of the FD.
If it is monthly compounding then monthly, quarterly compounding then quarterly or if it is yearly then yearly TDS is deducted.
TDS is not deducted at the time of maturity but it is deducted accoridng to the scheme of the FD.
If it is monthly compounding then monthly, quarterly compounding then quarterly or if it is yearly then yearly TDS is deducted.
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
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- GST Rate for Catering Services
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Journal entry of busniess expenses
- TDS AND ITR ISSUE
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- FCRA 6 E- Intimation
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
