Please Help: matter of int. u\s 194a
Posted Date : 18-May-2012 , 05:27:13 pm | Posted By: Rajeev
Category :
Income Tax | Answers :
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gud evening to all experts,
can any 1 tell me that bank will deduct int. on fd or saving ac |
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Answers:
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 Answer by: CA Richa Gupta |
| dear bank will deduct tds on interest if interest exceed rs10000
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| Answer by: CA. SURESH Kr. AGARWAL |
| Bank will deduct TDS on the interest given on FD as well as on Saving a/c also. However upto RS. 10000/- interest No TDS will be deducted.
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| Answer by: Rishabh Upadhyay |
| Limit for deduction of tax by banks on interest on FD and Saving is rs 10000 in one financial year. You can file form 15G/15H if you dont want the tds to be deducted. However there is another limit of Rs 50000 for annual interest which if exceeded banks are liable to deduct tds even if form 15g/15h hs been provided
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| Answer by: Rambabu Senkarasetti |
| FD or SB doesnot matter. If interest exceeds 10000, then bank will deduct.
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| Answer by: Rambabu Senkarasetti |
| FD or SB doesnot matter. If interest exceeds 10000, then bank will deduct.
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