If a person is getting Rs. 6000 interest half yearly on Fixed Deposit of a bank and it matures, will TDS be deducted.
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Replies (7)
Yes it will be deducted...on full amount of intrest... @ 10%.....
No TDS is not deducted because cut off limit of TDS u/s- 194A (INTEREST OTHER THAN ON SECURITIES (BY BANK)) for "Interest received from bank is rs. 10,000/- in a year " (for F.Y.-2013-14 on wards) and in present case the int. is so recd. on F.D. from bank & it matures in 6 months and int. recd is only rs 6,000/- which is bellow the cut-off limit.Therefor TDS is not deducted
Yes, I am fully agree with Mr. Parag.
No TDS
-194A Applies
- Cut Off is Rs.10000-
yes.. no tds..
i missed the "it matures in 6 mnths" part 
..
The limit of 10000 is for saving interest and not for fd interest.hence tds is applicable.
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