Dear All,
On Banks/Corporate Fixed Deposit, TDS is deducted by Banks & Company if the Interest amount exceeds Rs.10000/- p.a.
If I am doing the investment for 2 years cumulative plan for the amt of Rs.46000/- @ 10.25% p.a anually compounding, then at the end of 2nd years will the interest be taxable.
Regards
Sandip
yes,only for the interst earned for 2nd year
As per my calcuation the total interest is not going beyond Rs.10000/- . It comes to Rs.9913.29, then TDS will be not be deducted for 2nd year i.e. at the time of maturity.
Kindly confirm.
Gowra Ventures Pvt Ltd
Hyderabad
CA
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VNSS & Co
Mumbai
Others
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CCI
Pro
CAclubindia
