Tds on interest on other than securities
This query is : Resolved
05 April 2012
can u plz tell me that if limit of 10000 on interest on other than securities is crossed then tds is deducted on above Rs 10000 or total amount of total interest received?
Ex- If a bank credited or paid the interest to the party rS 10000 on monthly basis then wats the amount of TDS?
Plz give ur reply ASAP.
Ex- If a bank credited or paid the interest to the party rS 10000 on monthly basis then wats the amount of TDS?
Plz give ur reply ASAP.
05 April 2012
TDS will be deducted on total amount and not Rs. 10,000.
05 April 2012
interest up to Rs10000 is tax free means..
if interest earned is Rs10001, then only 1 rupee is taxable
if interest earned is Rs10001, then only 1 rupee is taxable
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