In this case bank will deduct TDS @ 10%under 194A. If interest amount is more than 10000.

 

Person can file ITR and claim refund of the same

Example 1

Suppose a person as FD of 5 lac @8% p.a for 6 months

Whether TDS is applicable 

View Answer

 

Example 2

Can the person submit 15G form 

View Answer

Example 3

Suppose a person does not have any other income and he fails to submit 15G form, can he claim refund 

View Answer

 

Example 4

Suppose a person has salary income of 15000 per month + interest income on FD. He does not have any other income and he fails to submit 15G form, can he claim refund 

View Answer

 

  1. Tax Practical
  2. Practical TDS (Non Salary)
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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .