November 4, 2013 5:47 pm
I have 3 short term FDs (48 days each). Is the TDS applicable on the interest earned?
Thanks Sumit 🙂
If the total interest (earned from all the FD you have with that bank) exceeds 10,000 in a financial year, then bank will deduct TDS at a rate of 10%, and if bank does not have your PAN card details (I am sure they have but just in case 🙂 ) then they will deduct 20% of your interest amount when it exceeds 10,000 as TDS.
Know more about Taxation on FD and how to avoid TDS on FD in below link:
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