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Tds on interest on fixed deposit.
When will interest on fixed deposit becomes taxable. What is limit for non tds on interest on fixed deposit?
Replies (10)
Interest on F.D up to 40000/- is exempt from TDS as per section 194A of the Income tax act 1961.
No tds till the interest is upto 5000/-
However you may submit form 15G/ 15H for non deduction of tds upto Basic exemption limit under income tax act 2.5lacs/5lacs
However you may submit form 15G/ 15H for non deduction of tds upto Basic exemption limit under income tax act 2.5lacs/5lacs
As per section 194 A , Interest from Bank Co-Op Society, Post office limit is 40000/( Forty thousand) in Other cases limit is 5000/- (Five thousand) . please refer section 194 A .
@ Prajakta,
How much is your GTI ?
How much is your GTI ?
No tax is required to be deducted if aggregate amount of interest credited or paid to the payee in respect of time deposit during the financial year doesn’t exceed 40,000 (in case of senior citizen limit is 50,000)
As per your first qs...income on fd will become taxable if it crosses amounts as per income tax act for different age catagory....age below 60,....60 and above.....80 and above......(income limits,)
But one can submit form 15G/ 15H if there no taxable income
@ Mahesh Shah, Sorry sir but you reply need to be more specific and correct. Just telling you from your replies on many post i have seen.
@ Prajakta,
How much will be your estimated interest on FD for the current FY ?
How much will be your estimated interest on FD for the current FY ?
She is not interested to your reply , she didn't reply for your single query or reply. But you are keep replying for points😂😂😂
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