if interest on FD is paid by bank then what is the limit in tds?
for what is the limit of 5000 ?
plz help me out regarding these points in detail
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Limit under section 194a of tds
Replies (6)
If interest received other than bank deposit, post office deposit/bank co- society deposit -tds limit is 5000
Further, in case of interest on FD, the limit is 40k pa.
40k includes only fd interest or any other interest is also included?
Yes, any interest from Bank is included in the limit of 40k.
For senior citizens, this limit is 50k.
Agreed with Poornima Madhava
Thank u so much 😊
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