Tds on interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 May 2013
Dear Sir,
Suppose annual interest on FD is Rs. 15000/-.
In the above case bank will deduct tds on the whole interest amount of 15000/-
or
Bank will deduct only on Rs. 5000/-.
Please clarify.
Suppose annual interest on FD is Rs. 15000/-.
In the above case bank will deduct tds on the whole interest amount of 15000/-
or
Bank will deduct only on Rs. 5000/-.
Please clarify.
22 May 2013
On Rs. 15000
22 May 2013
The limit of Rs 10000/- is threshold limit and not exemption limit. It means TDS to be deducted only when threshold limit is crossed. Once threshold limit is crossed TDS to be deducted on total amount. In this case on Rs 15000/-
12 July 2013
Yes I agree with the expert Sanjay Gupta the bank will deduct on 100% interest and not on part.
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
- CAPITAL GAIN BASE ON NOTIFICATION
- Unregistered suppliers utility
- NRI starting business in India
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- GST not cancelled by tenant
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- Resigning a auditor from the company for misconduct
- Bank details not Visible on Traces Portal
- Taxable or Tax exempt
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- 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
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
