At the time of calculating Interest by banks on fd's they do not have PAN no. Of customers but at the time of deduction of tax they have PAN no.
What is the rate of TDS.
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tds on fixed deposit
Replies (3)
Dear Vaibhav Agrawal.,
I can't understand your query...
Bcoz,
At the time of Calculating interest......... Which time...?
At the time of Deduction of Tax..... Which Time...?
Hello Vaibhav,
In case of FDs, if you are getting interest income more than Rs 10,000 for the year, than banks deduct TDS at the rate of 10%.
If the person has not provided his or her PAN number, bank will deduct TDS on FD at the rate of 20%
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