TDS on Interest on FD

Hello Friends/ Seniors

I have an interest income of Rs. 40,000/- from Fixed Depoits. All the FDs are with one bank only.

My questions are:

1) TDS that will be deducted by the bank will on the full amount of Rs. 40,000/- or on Rs. 30,000/-

2) If the FD's are with different Banks and the total Interest received is the same Rs. 40,000/-, but interest from none of the banks exceed Rs. 10,000/-, then will TDS be deducted or not.

Thanks in advance

Replies (3)
Originally posted by : Ravi Dasija


Hello Friends/ Seniors

I have an interest income of Rs. 40,000/- from Fixed Depoits. All the FDs are with one bank only.

My questions are:

1) TDS that will be deducted by the bank will on the full amount of Rs. 40,000/- or on Rs. 30,000/-

- full interest income is liable for TDS

 


2) If the FD's are with different Banks and the total Interest received is the same Rs. 40,000/-, but interest from none of the banks exceed Rs. 10,000/-, then will TDS be deducted or not.

- Bank branch will deduct TDS only in case of interest exceeding 10000/- per bank branch.


Thanks in advance

Thank You Sir...........

1) TDS will deduct on full amount of Interest of Rs.40000

2) No TDS 

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