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Important
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As per section 206AA introduced by Finance (No. 2) Act, 2009 wef 01.04.2010, every person who receives income on which TDS is deductible shall furnish his PAN, failing which TDS shall be deducted at the rate of 20%(as against 10% which is existing TDS rate) in case of Domestic deposits and 30.90% in case of NRO deposits
Please further Note that in the absence of PAN, as per CBDT circular no:03/11, TDS certificate will not be issued, form 15G/H and other exemption certificates will be invalid even if submitted and penal TDS will be applicable.
Please visit nearest HDFC Bank branch to submit or confirm updation of your PAN with the bank.
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Tax Deductions For Re-investment Fixed Deposits |
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| The following will be applicable for a Regular 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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W.e.f Aug 09, applicable TDS rates are:
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Tax Rate |
Surcharge |
Education Cess |
TOTAL |
| Resident Individuals & HUF |
10% |
---- |
---- |
10% |
| Corporate Entity |
10% |
---- |
---- |
10% |
| NRO |
30% |
---- |
3% |
30.90% |
| Firms |
10% |
---- |
---- |
10% |
| Co-operative Societies & Local Authority |
10% |
---- |
---- |
10% |
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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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TDS will be deducted on the basis of interest accrued on the Fixed Deposit(s) also even if the interest has not been credited/re-invested.
Please check the FAQ for more information on TDS.
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In case of renewed deposits,the new
deposit amount consist of the original amount plus interest less Tax
Deduced at Source(if any),less compounding effect on TDS. At times, it may lead to recovery of TDS from the principal amount of the deposit.
e.g In case of multiple deposits with the bank, if
the threshold of 10,000/- is breached by one of the FD while compounding
the interest in the FD, TDS is amount is apllicable on entire interest
earned in that cust id, this FD interest will definitly would not be
sufficient to recover the entire amount hence the remaining amount will
be receoverd from the same FD principal whoes interest compounding has
breached the threshold.
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| Apply Now |
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Just fill the Online Application Form and our representative will get in touch with you shortly.
Other Ways to apply :
*Conditions Apply
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