Fixed deposits have traditionally been a preferred savings tool among Indians. People put their money into fixed deposits (FDs) to earn interest income on it. In simple words, afixed depositis an investment option where you can deposit a certain sum of money in a bank for a specified period...
Furthermore, TDS or deduction of tax at source is applicable to certain payments. It includes brokerage, salary, interest, professional fees, contract payments, royalty, and more. Also, TDS is applicable despite the payment mode such as credit, cash, or cheque. Update on the Budget for 2021:...
TDS is a certain percentage deducted at the time of payments of the various kind of Income such as salary, commission, rent, interest on dividends etc and deducted amount is remitted to the Government account. For example, an employer deducts TDS on the income of his employee every month ...
Salary received in India or salary for service provided in India, income from ahouse propertysituated in India, capital gains on transfer of asset situated in India, income from Fixed Deposits or interest on savings bank account are all examples of income earned or accrued in India. These incom...
The final tax on his estimated total income computed as per the provisions of the Income Tax Act should be nil. The aggregate of the interest etc. received during the financial year should not exceed the basic exemption slab which for financial year 2011-12 or Assessment Year 2012-13 is Rs...
Salary received in India or salary for service provided in India, income from ahouse propertysituated in India, capital gains on transfer of asset situated in India, income from Fixed Deposits or interest on savings bank account are all examples of income earned or accrued in India. These incom...