| The following will be applicable for a 5 Year Tax Saving Fixed Deposit |
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TDS will be deducted when
interest payable or reinvested per customer, per branch, exceeds Rs
10,000 in a financial year. |
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A consolidated Annual TDS Certificate will be mailed to you after the end of the financial year, including details of all TDS deductions during the year.
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Applicable TDS rates are:
|
 |
| Resident Individuals & HUF |
Tax Rate |
Surcharge |
Education Cess |
TOTAL |
| Payment upto 10 lacs |
10% |
---- |
3% |
10.30% |
| Payment equal to & above 10 lacs |
10% |
10% |
3% |
11.33% |
|
|
|
|
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If you are exempt from paying tax, you need to present Form 15H when you open a Fixed Deposit and subsequently at the beginning of the following financial year. |
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At the end of the financial year, the TDS will be deducted on the basis of interest accrued on the Fixed Deposit (s) even if this interest has not been credited.
Please check the FAQ for more information on TDS.
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