Tds on fd matured

Can anyone please guide regarding the principles of TDS on FDs matured?Is TDS applicable on the principle amount as well alongwith interest while redemption?

Replies (6)

tds is applicable only on int componenet, and in case if interest during the fy exceeds rs.10000/-

so when i receive the proceeds upon maturity..Bank will deduct tax at source and give me the net amount..right?

get yearly statements from bank, bank has to deduct tax every year , when yearly interest is more than 10000/- and credit the balance to your FD account.

at maturity the accumulate balance is payable to you.

agreed with US Sharma

oh..ohk..now i understood it clearly..thnk u very much!

Originally posted by : U S Sharma

get yearly statements from bank, bank has to deduct tax every year , when yearly interest is more than 10000/- and credit the balance to your FD account.

at maturity the accumulate balance is payable to you.


Hell U S Sharma,

You seem to be an expert. Have quick question

-When will bank deduct the TDS from my interest income of NRO accout? My interext income is not going to exceed 100000. So will the bank deduct Tds and then will i have to file some form to get the TDS dedcuted..if yes, when should I be filing the tax..

 

Thanks

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