#1
2nd December 2015, 02:07 PM
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Corporation Bank TDS on FD
Hello, I want to make the fixed deposit in the Corporation Bank and I want to know the TDS available on the FD.
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#2
2nd December 2015, 02:08 PM
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Re: Corporation Bank TDS on FD
Hello, here I am providing you the TDS available in the FD of the Corporation Bank as under: TDS on Interest Amount TDS shall be deducted at applicable rate on entire interest amount once it crosses Rs.10, 000/- during the financial year Tax Saving FD: This scheme attracts those investors who want to invest for saving income tax. in this scheme, it is a compulsory lock-in of five years under this scheme, and fund cannot be withdrawn before completion of this period. TDS limits for companies: The TDS limits for companies deposit schemes are Rs 5000 only. It means if the interest earned from a company deposit exceeds Rs 5000, then the investors are liable for a TDS on interest. How to save TDS on FD? By Submitting Form 15G/15H Distributing FD investment Timing the FD Splitting FD another way Fixed deposit rates of the Corporation Bank: Term Deposits [% per annum with effect from 21st November 2015] Term Deposits (Other than NRE) Maturity Band Less than Rs.1 Crore(applicable For domestic, NRO and Capital Gains deposits) 7 to 14 days 5.5 15 to 45 days 6 46 to 60 days 6 61 to 90 days 6.25 91 to 120 days 7 121 to 180 days 7 181 to 270 days 7 271 days to less than 1 year 7 1 year only 7.25 Above 1 year to less than 2 years 7.25 2 years & above 7.25 |