Hellow guys, Welcome to my website, and you are watching TDS on FDs | Fixed Deposit TDS Limit | Income Tax on Fixed Deposit | Know About Form 15G & Form 15H. and this vIdeo is uploaded by BankBazaar at 2023-09-13T21:30:04-07:00. We are pramote this video only for entertainment and educational perpose only. So, I hop you like our website.
| Name | TDS on FDs | Fixed Deposit TDS Limit | Income Tax on Fixed Deposit | Know About Form 15G & Form 15H |
| Video Uploader | Video From BankBazaar |
| Upload Date | This Video Uploaded At 14-09-2023 00:30:04 |
| Video Discription | What is TDS? Tax Deducted at Source (TDS) is a procedure implemented by the Indian government to collect taxes at the source of income. A certain percentage of tax is deducted by the payer at the time of making payments to the receiver, and this amount is then remitted to the government. Now, let’s talk about the Fixed Deposit TDS limit. When you earn interest on your bank fixed deposit, the bank is required to deduct a portion of that interest as TDS. But here’s a catch - TDS is deducted only when the interest income exceeds a certain threshold limit. For individual taxpayers, this limit is ₹40,000 in a financial year. For senior citizens, it's ₹50,000. When to submit Form 15G & Form 15H? If your total income is below the taxable limit, you can submit Form 15G (for individuals) or Form 15H (for senior citizens) to the bank. This will prevent TDS deduction, and you can receive your full interest income. Don't forget, it's essential to provide your PAN (Permanent Account Number) to the bank. If you don't, the TDS rate could be much higher - a whopping 20% instead of the usual 10%. Now, let's say TDS has been deducted, but your total income falls below the taxable limit. You can claim a refund when you file your income tax return. #tds #incometax #fixeddeposits #fd Read more here - https://www.bankbazaar.com/fixed-deposit/tds-on-fd.html |
| Category | Education |
| Tags | tds on fixed deposit | tds on fds | tds on fd interest | tax on fixed deposit | interest income | form 15g | form 15h | submit 15g & 15h |
