Dear experts,
Our uncle is a retired employee. He has 6 lakh FD in banks. Banks are not deducting TDS for interest. Is there any to prevent TDS apart from form 15?
Whether Post offices deduct TDS?
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What is the limit for banks to deduct TDS on Fixed deposit.
Replies (4)
Dear Harsha,
Income from post office invesment is exempt under section 10(15). So definitely, tax need not be deducted at source.
1)Whether, interest received under monthly income of post office, scheme is exempt?
2) Whether Co-operative societies will deduct TDS for interst on Time deposit made to its members
Dear harsha,
the section apllies to a co-operative society carrying on banking business. it does not apply to a co-operative society carrying on insurance business
thanks sir 4 ur advice
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