Site icon Jagoinvestor

TDS Deducted from Fixed Deposit for interest less than Rs 10,000 – Why ?

Hello,

I had several FDs in my savings bank to foreclose my personal loan which generated interest of 9037.44 (from all FDs in the FY) and I see bank had deducted TDS of 904 from one of the FD. As far I know TDS on FD should be 10% only when total interest exceeded 10,000. But why they deducted TDS from me while it was less?

Exit mobile version