under what section of the income tax act1961 are Bank's fixed deposits taxed and whether banks have any power to deduct more than 10% of intt payable when PAN no of depositer is available and what to do when tax more than the prescribed rate of 10% has been deducted while renewing the FDR's
Ramesh Kumar Vinayak
Menu
Deduction by Bank of TDS more than 10% while renewing the FDR's
Replies (1)
under sec 194A, Banks deduct TDS at 10% on your FD interest if they pay more than 10,000 interest per annum.
They will deduct 20% of Interest as TDS if you didn't provide PAN
They will deduct 20% of Interest as TDS if you didn't provide PAN
Recent Topic
- Composition scheme
- Input tax credit under igst under insurance compan
- ITR Form to be used
- CGAS account Holder Deceased
- ITR form suggestion
- Post office KVP income.
- Free GST invoice tool I built for my practice R
- Clarification on Gratuity Exemption under Section
- GOODS AND SERVICE TAX - GSTR 1
- Correct ITR form
Related Topics
CAclubindia
