TDS on Interest on 5 year Fixed Deposit

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  1. Avik Das

    Avik Das New Member

    If I invest 1.5 lakh in tax savings fixed deposits for 5 years lock in period then is there any tax deduction on interest yearly? Or whether I have to submit 15G form(I am not fall any tax slab).
     
  2. Karan Batra

    Karan Batra Well-Known Member

    You can submit Form 15G requesting for non-deduction of TDS on Interest earned on 5 year FD
     
  3. Avik Das

    Avik Das New Member

    If I have multiple fixed deposit accounts.and all accounts yearly interest not exceed ₹10000, but overall interest is greater than 10000 then whether they deduct 10% on interest or not?
     
  4. Karan Batra

    Karan Batra Well-Known Member

    Yes, they will deduct the TDS as the Total Interest earned during the year exceeds Rs. 10,000
     
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