If my interest in FY 2013-14 is 11000, then how much TDS the bank should apply? 110 (10% on excess of 10,000) or 1100 (10% on whole amount of interest)?
Thanks!
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Tds on fd interest
Replies (9)
TDS will be on whole amount, i.e Rs. 11,000 @ 10%.
Rs. 1100. TDS apply on hole amount
I AGREE WITH FENIL SHAH!!
TDS is applicable on entire income. I.e. on 11000 @ 10%
TDS is applicable on entire income I.e on 11000 @ 10% u/s 194A. But you can submit form 15G for non deduction of TDS.
Tds applicable on entire amount
TDS @ 20% if no PAN number.
If you under 60 you can submit the form 15G or above submit the form 15H for non-deduction of TDS. One think is also that Int. from Savings Bank A/C holder can claim deduction u/s 80TTA upto Rs.10000/-.
Dear Sir,
kindly arrange to send form ITR-1 & ITR-2 excel base utility for the A.Y. 2014-15.
Thanks & Regards,
Vinay Dubey
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