| 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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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% |
|
|
|
|
| Corporate Entity |
Tax Rate |
Surcharge |
Education Cess |
TOTAL |
| Payment upto 1 crore |
20% |
--- |
3% |
20.60% |
| Payment equal to & above 1 crore |
20% |
10% |
3% |
22.66% |
|
|
|
|
| NRO |
Tax Rate |
Surcharge |
Education Cess |
TOTAL |
| Payment upto 10 lacs |
30% |
---- |
3% |
30.90% |
| Payment equal to & above 10 lacs |
30% |
10% |
3% |
33.99% |
|
|
|
|
| Firms |
Tax Rate |
Surcharge |
Education Cess |
TOTAL |
| Payment less than 1 crore |
10% |
---- |
3% |
10.30% |
| Payment equal to & above 1 crore |
10% |
10% |
3% |
11.33% |
|
|
|
|
| Co-operative Societies & Local Authority |
Tax Rate |
Surcharge |
Education Cess |
TOTAL |
| 10% |
---- |
3% |
10.30% |
|
|
|
|
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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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