Tds related query

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 August 2013 If a sineor citizen make a bank FD of INR 20 Lakhs @ 9.1% pa. And he has submited form 15H at the time of FD opening in bank.

As interest income (INR 1,82,000) is below in slab rate, is bank will deduct TDS on it?

What will be Tax implication on it

jigarbharatgogri

jigarbharatgogri (Querist)
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16 August 2013
wHAT % oF tds dEDUCTED pAYMENT mADE TO cREDITOR

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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16 August 2013 If the person has submitted Form 15H, bank will NOT deduct TDS.

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C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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16 August 2013 No TDS is to be deducted by bank as you have complied with the no deduction by submitting form 15H

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 August 2013 no tds to be deducted as u submitted on time form 15H and also you are senior citizen so u will get the basic exemption of rs 2,50,000 also.

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