What to do avoid tds on fixed deposit?
This query is : Resolved
chandrakala
(Querist)
16 November 2011
what to do to avoid TDS on fixed deposit?
16 November 2011
Have Deposit in such manner in different bank so that total does not exceed 5000 in a single bank,
And if u r not in limit of taxable income than issue 15G or 15H for respective resident.
And if u r not in limit of taxable income than issue 15G or 15H for respective resident.
Yogesh Agarwal
(Expert)
16 November 2011
You may like to make FD in small amounts in different banks so that the interst in any single FD is not exceeding the threshold limit of amount subject to TDS during the year...
Yogesh Agarwal
(Expert)
16 November 2011
The threshold limit on Interst on FD is Rs.10000/- in a year...After this amount your Interest in liable to TDS.
CA SUMiT PATWARi
(Expert)
16 November 2011
Keep the interest on FD upto the prescribed limit.
Alternatively, Furnish Form 15G/15H (if investor was not subject to income tax in previous year)
Alternatively, Furnish Form 15G/15H (if investor was not subject to income tax in previous year)
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