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Query: If TDS is deducted on bank interest on FD maturity

Category: Investments

Answer: No TDS is deducted by bank yearly on accrual basis, whether FD is matured in the year or not, whether interest is paid or not. TDS on interest will be deducted by bank if our accrued interest for a person exceeds 40000 (50000 in case of senior citizen) in a financial year in a bank including all branches.

Date Posted 13-Dec-2019
Posted By Kumar Prakash
Views: 457

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