TDS will be deducted @ 10% under section 194 A of the income tax act 1961 , Threshold limit is 5000/- for other than banking company .
Yes, in addition to above; the interest income will be added to his other incomes and will be taxed at slab rate.
R P S K & Associates
Nashik
CA Inter
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T R SOOD & CO
New Delhi
CA Inter
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Karia Overseas
Ahmedabad
CA
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CAclubindia
