POSTED BY July 24, 2012 11:59 pm COMMENTS (2)ON
I have an FD for Rs 1,50,000. The interest on this FD, being greater than Rs 10000, will attract TDS. Also, my income falls in the 20% income tax slab. So, while filling up the income tax return form, in the section “interest from other sources” if i put the interest from this FD, the form will automatically calculate the tax based on the 20% slab.
Now, to avoid this extra 10% of tax(20%-10%), how shall i proceed while filling up the income tax return form?