Savings account - term deposit - tax provisions

HI,

Generarly, Bank deduct tds on interest,if interest amount is more than Rs10000/- for financial year  but if you declare lower income in 15G or 15H than Tax slab then bank does not deduct tds on interest.

There is no limit for deposit in minor kind account  but interest income of  minor is club to your income and tds deducted also claim by you.

With Thanks & Regard

Hi Jayesh,

Thank you very much for your reply.

Warm Regards,

Venkatesha

Hi,

It's my Pleasure.