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.
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