Interest earned on FDs is covered under "income from other sources"
Check Here
TDS on FD interest if it exceeds:
Non-Senior Citizens:
Rs. 40,000 per year
Senior Citizens (60+):
Rs. 50,000 per year
Check Here
TDS Rate:
10% if you provide your PAN details to the bank. 20% if you don't provide PAN.
Check Here
Avoiding TDS:
You can avoid TDS if your total income is below the taxable limit (currently Rs. 2,50,000) by submitting Form 15G or 15H to the bank.
Check Here
How to Saving Tax on Fixed Deposit
Check Here
1. Invest in Tax-Saving FDs
2. Joint Investment
Read in Detail
Don't miss to Follow FinanceFundaa.com
to stay updated with Finance
Check Here