Will my tds deducted

682 views 4 replies

Hi,

I would like to know whehter TDS would be deducted , if a person has a FD of rs 10 lacs at 9 % interest. but has anuual income less than 1.5 including the FD interest.


 

Replies (4)

The person may apply for TDS exemption showing the fact that the taxable income is below the basic exemption limit.......

file 15G if non senior citizen

15H if senior citizen

then no TDS will be deducted

Yes, the banks would deduct TDS as they have been instructed to deduct TDS on all interest payments exceeding Rs. 10,000 in a year..

Yes,banks will deduct the TDS once it cross the limit of int. in this case assesse can claim ii providing necessary docements like 15G ot 15 H which ever is applicable subject  to the issue.

 

Hari prasad.J

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