How to SAVE TDS on FD😠 (Fixed Deposit)| Important Financial Advice
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- Опубликовано: 31 июл 2024
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The second video in our series on Fixed Deposit shares how banks deduct TDS and tax on your FD account and how you can save it.
Watch the first video here; • ✅Fixed Deposit (FD) ✅F...
Read about this in English: labourlawadvisor.in/blog/cate...
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Chapters:
00:34 Difference between Tax Vs TDS
02:40 What is TDS on Fixed Deposit?
02:50 When and how much TDS is applicable?
04:01 How to avoid TDS deduction on fixed deposit account (non-taxable income)?
05:08 How to avoid TDS deduction on fixed deposit account (taxable income)?
06:09 Formalities after TDS deduction
06:50 Tax on fixed deposit
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Income tax slab rates: link missing
Fixed deposit calculator: www.moneycontrol.com/fixed-in...
Corporates interest rate: www.moneycontrol.com/fixed-in...
Bank Interest rates: www.moneycontrol.com/fixed-in...
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Sir app jo 10℅ tds rate bta rhe hain wo senior ctz sav scheme mei bhi same rhega ya jaisa uss scheme mei btaya hai ki below 50thousand tak koi tds nhi katega?? Pls clarify this
At 03:00 min video part
Thanks for the information!
Please explain about bob short term fd which claims 4.5 % interest rate for 15 days.
As you're one of the reliable sources on which we awakened people can trust😇
@labourlawadvisor it is so confusing some says if the interest amount is less than 40k in different bank or branches then the TDS will not be imposed & you are saying 10k. Which one is correct?
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Option D 8.5 years
Paytm no.-8384077536
D
First watch this video on FD to understand better
ruclips.net/video/raW2FIPnqIc/видео.html
Someone who was employed but now he is no longer employed and became student then would his income gain on FD be deductable if he invests in fd now as unemployed customer?
I just wanna say you are awesome u make it so simple guys… to understand… big thumbs up… u r a life saver and a face saver too…
Pl updated this according to new income tax .
2:50 TDS exemption limit on FD has been raised to 40k
Has it been raised in this latest budget ? And this 40 new limit is for both banks and NBFCs?
@@navneet2649 Don't know about NBFC's but for banks the limit is 40k from FY19-20
@@ajay2552 thanks buddy! 👍❤️
Sir agar hum 1 lakh ka FD kare 1 year ke liye, then tds, tax kuch nahin katega to ?? Pnb bank
Sir your video are so much imp in life thank you very much sir 🙏🙏🙏🙏
Thanks a lot sir for the formula of 72. Answer is option D) 8.5years
Option D: 8.5 years
(Using Rule of 72)
Thank you for your video; I had this question on keeping FD in different banks to ensure the interest generated is less than INR 10000 and avoid tax. I understand the income generated from FDs (Interests) is tracked through PAN against individuals and not the banks. This means that it would tax you as the interests irrespective of the number of banks that you have invested in, will be totaled and taxed. Can you please clarify?
Correct
The workaround is only to avoid TDS and not Tax. You will have to pay the tax but it won't be deducted at source, so you don't have to go through the hassle of filing returns if you've been taxed incorrectly at source.
Very well explained. Hum chahte hai ki aap best fd savings plan batai sabko..
The answer is 8.5 years...! As for calculation of interest to be double of our principle amount we need to divide by 72 always...!
*Question #44*
Ans.:- 72/8.5%=8.47(8.5 years) will get doubled.
Correct ans.:- D) 8.5years👍
Rule 72
In short government doesnt want you to become rich!😂😔🤣
Harami Gov sab black money Vijay Mallya Nirav Modi k pas hain
@@nikhilprabhudeva1303 so you want to die poor
@@nikhilprabhudeva1303 then dollar would be fall below rupaya
Govt chor hai saali
Sahi kaha kyuki neta log kabhi apni pensan nai chhodte or gov employee ka PF bhi band kr diya
A new video on this topic as per current rules and regulations will be helpful.. thank you
Thanks sir
Apki all videos bahut hi useful hota hai.
Option D..8.5 years
rule 72
Paytm cash mil gaya kya ??
Sir if u can just update ur old videos (which are awesome) time to time by indicating new rules or changes then it will be very helpful! Need not make complete fresh video, just part 2 of every video with highlighting the changes! ❤️
Valuable information...muje is bare mai pta hi ni ta...Aj hi 15G bharta hu
Hi sir i have done FD for 5 years, interest which comes on FD should shown in itr filing on yearly basis or at time of maturity after 5 years to pay tax on interest
TDS threshold for interest earned on bank and post office deposits have been increased to Rs 40,000 (Feb 2019) from the previous limit of Rs 10,000. Note that usually interest earned in a financial year from all FD's, RD's, Saving Account, etc in a particular bank are added together to check this limit (Source: Conformed from BOB, but to be more sure check with your respective banks!).
So if i open various FDs in say 5 different banks..i get TDs relief till 2 lacs ?
@@mrsam1999 It's linked to your PAN, so the govt knows how much interest you have earned even if it's in different banks.
@@eminem2088tax is not deduce on fd till now, still I've to mention fd interest while filling itr.
@@mrsam1999In this case TDS will not be deducted by banks but You have to pay tax on it depending upon the tax slab in which you are.
Rule 72 as you as said earlier. 72/8.5. = 8.4~ 8.5 the amount will be doubled
9 year
1:38 in example 2 where is the calculation of surcharge and cess?
quistion#44
ans is (D) 8.5years
Sir
I want to know,
If I have earned interest of more than 10000/- but my income is less than 2.5 lakh , then TDS is refundable?
Yes, best is to fill 15G in advance to avoid TDS
@@LabourLawAdvisor thank you
First comment 😋😋
8.5 years
Abhi Raj RR bglb VM mmnfc f. b
Fgjbgjff
sir plz reply my question it very import for me
sir meri mom ki age 60 he or unki 25 lakh ki fd he
or unki govtment ke dwara 14000 pensin milti he kya hum tds se bach skate he
kiyuki bank wale se jb mene 15g ya 15h form bharne ko bola to bank walo ne fd me jo intresrt or annul incom ko add kar diya or bola aap 15h/15g ke liye eligible nahi he
Thank you Sir, for valuable information
Whether we can get relief on Mediclaim premium alongwith GST?
Dear Sir, please make a video on Income Tax Act 10 (26)
Sir, I'm a pensioner having a mod account in sbi. Sud I also submit form 15 for it
We already filed our ITR and client who deducted TDS has not deposited TDS to government and therefore it's not showing in our 26AS. Now, how can we claim that TDS? Can we claim missed TDS of AY 19~20 in next AY 19~20?
If I open a fixed deposit in October for one year.how my income tax will be calculated?will it be calculated on the interest between October to March next year ? If interest for entire year is slightly more than 40000,will the tds be deducted from October to October next year or no tds will be deducted on the basis of interest between October to March next year?
Sir ak question h.sir Mara do pf no ak uan ka sat h.mana online dono pf ko marj karna ka leya apply keya h.lakin ave Tak marj nahe huaa h.or ak bat ,marj hona par hum ko Kasa pata calaga ke Mara dono pf marj huaa
What to do by a Sr. Citizen, when even after submission of 15 H form in bank, bank employees do not upload it in computer system.
Sir agar koi bank FD she TDs katata hai aur I/tax deptt me Jana nahi karana ho aur zero 16 A TDs cert deta hai to kya I/tax deptt us bank par action legs agar ham unako yane i/tax deptt ko inform Kate to. Mere sath Eisa SBI muktainagar be.code 07776 kiya hai.
Sir, Option D- 8.5 years
Sol- 72/8.5=8.47
Thank you so much sir😊 .May god bless you 😊😊😊
how can i avail back my tds refund from icicihomefinanceltd
In husband's return kvp on name of wife can be shown for deduction or only investment on his name can be shown? Please guide soon.
kya aap bata sakte hai , 80000 case deposit apne accout me kar sakta hu par tax pair nahi hu
Hello sir.... Sir i have filed my income tax return for AY 2019-20 today (belated) and my tax refund shows Rs 1180 only can get return and how much late fee will be deduct in this amount
Crpf form16 me (d)DCPS matching Govt. Contribution likh kar kus rupess aya hai, keya a gross salary me plus kar na ha
Can I have standard deduction of 40,000 on both salary and pension at the same time? I mean, I am an exserviceman and also employed in govt job. Can I claim 40,000+ 40,000= 80,000 standard deduction?
I am working out of india and i am having NRO account. Do i need to fill 15G form for TDS ? Am i coming under tax slab?
Thank you sir ji Nice..
Thank you so much LLA ❣
Thanks for the information
Taxation on AutoSweepFD/FlexiFD ?
Someone who was employed but now he is no longer employed and became student then would his income gain on FD be deductable if he invests in fd now as unemployed customer?
Question 44
Answer is option D
8.5 years
Sir mujhe form 13 pf ka transfer other pf account me ka video dikhaiye ya link dijiye
Bhaiya mera pf or pension dono rejected kyo ho gya or pension me ye bta rha - TRIPPLE AND DOUBLE CONTRIBUTION POST IN 042017 AND 052017 SUBMIT CARIFICATION/OK
Sir
Pls update and shoot the video 🙏
If mujhe intrest. Mil rha h 1 sal ka 10k se niche to tax lge ga??
Income-tax is a curse upon the middle class people. This rules should be withdrawn immediately for the welfare of the people of india. Instead 1% tax can be imposed upon all types of purchase by the people, as suggested by Sri Ashwini Upadhya, Sr. Advocate of the Honble Supreme Court of india.
Option-D
72/8.5=8.47
That is 8.5 years
I lost my fixed deposit bonds I have donds no. and my account no. what is the process to cancel my fdr
Sir kya bina TAN ke sub-contractor Interest on TDS deduction kar sakta hai kya or Tsd on Contract deduction kar sakta hai kya
Hlo sir can u tell about property under Laal Lakeer....its meaning...registry..etc
YAdi user earning point hai hi nhi than tb bhi for pr Tds cutega Kay?yadi yes than advise fdr or legnai wala Tds kaisai bachai poorai process batai..
Hi LLA, Could you please help me out with this. As far as I know, after crossing 40,000 limit, 10% of interest earned is deducted from FD. This 40, 000 limit is with per bank or total interest amount earned in case i have multiple fds in different banks with same pan number. Mixed information available on the internet. Some say total, some say per bank.
Total...
Agar m retirement bala paisa ko fd krta hu to kitna tax tds katega bataiye jaise 50 lakh ki fd par tax tds ki calculator kar samjhaiye
Please somebody answer, if for example the principle is huge for example 1 -2 crore, let's say 2 crore Fd in that with 6 % interest the amount of interest is 12 lakhs if the person's income is zero in that specific year that means he has NIL income tax slab ...... What will be the tax and tds that would be cutted
Hi, Thanks for the video.
I have filled the 15G form, but from the mid of this financial year i am no longer eligible for 15G. Bank can not revert the declaration. How do i need to pay tax now?
sir aap ne bola ki agar fd 5 saal ke liye kar di to aap ko har saal accural base ke anusar har saal intrest par tax chukana hoga to kya bank apne aap tds har saal ke intrest par cu kar letahai ya hame alag se kuch process karni padegi , nahi to pata chale bak ne tds 5 yeras baad hi cut kiya aaur hamara total intrest 5th year ki income me add ho gaya to dikkat ho jaygi due to different tax slab----please ans in detail
How can one say that In his next year income will be in the slab that will not be under tax deduction !! During form 15 G filling how can one declare that? So what to do should one submit 15 G if currently he or she has no income under income tax
Good evening Sr...
Is there any limit of fixed deposit like up to 10lakhs or above , for housewife for eligible to submit 15g form.
Sir kya hum fixed deposit Ka annual statement bank se mang sakte Hain
Thanks for the knowledge sharing.. one small query do i need to deduct 10000 from the intrest given by bank in fd and calculate tax.
Nope. Never do that.
If amount is non taxable (agriculture income/compensation by govt for land acquisition)and i made FD so what about that...Is TDS applicable on that income or will there be tax on the whole amount of Fd?
Lic housing finance how much would be the limit 5000 or 10000
Punjab National Bank housing finance and Bajaj finance
Sir kya ye form Jo Aapne bola15g her Saal bharna padega?ya sirf shruvat main
Saal me 10 lakh se zyaada paisa withdrawal ya transfer karney par bank tax dept ko inform karta hai. Kya saving account se FD karney par us paisey ko tranfer maana jaata hai.
Sir Maine FD k ac se galti se tax sever fix deposit ho gya h ab ab m withrowal kaise Kru plz ans me
Sir main ek pensioner ho main 5lac ka fd karu toh muje keya tex dena porega?
Sir agar hum tax bracket mein honge tabhi katta hua TDS income tax ke roop mein jamma Hoga, aagar hum tax bracket mein nehin aate janni hamari income 2.5 lakh ho to hum tax bracket mein aate hain ja 5 lakh income tax bracket mein aati hai...kon c income ko taxable income manna hai, net kitna Interest earn hone Tak TDS kattega and agar utnna interest na earn kiya ho to kya katta hua TDS tax return form mein fill karke, full TDS refund ley sakte hain OR aagar hum tax bracket mein aa gaey to TDS jitna bhi ho kattega ?
Please reply LLA Sir
Agar Senior Citizen ki property bechne ke 20 lacs milte hai aur uski FD Usi Senior Citizen ke Nam ki Karate hai, Unki Income NIL hai Aur Form 15H bhi Bank me fill karde to Uske bad to koi TDS nahi katega na?
Please Reply
do Interest of flexible Fixed deposite ( MOD Account) will come under 80TTA 10000 limit? Pl confirm
Sir maine 7-1-19 ko sbi se online fd krai thi. Jispar interest 10 hazar se jyada h. Kya main ab 15g form lagau to TDs nhi ktegaa.
Plz update this according to new income tax
Estimated total income of the P.Y. in which income mentioned in column 16 to be included --. sbi बैंक के इस कॉलम में कौनसी राशि भरनी हैं। ब्याज वाली या fd maturity पर मिलने वाली राशि।।. Please suggest
thank you, very helpful :)
If PAN not submitted, 20% TDS will be cut and deposited against which PAN then as per Form 26 AS?
Thank you, sir!
Sir what if my annual income 21,000 is but yearly interest on FD in more than 45K then will I have to pay any kind of tax??
oh Kaka jee, 5 saal vastai tusi dak khannai jama kar ditai byaaj jaira way har saal milai gaa ya 5 saal bad, kya dak khanna accrue byaaz quaterly, sr Citizen kya aasie har saal tax bhar sak dai yaan kyunki 5 L di choot har saal ya may be there are number of ways to find tax deductions. end of 5 yrs we end of paying very hugh amount of tax on the byaaj. what are the ways to minimize accured interest every year. kon kon se tareekai sai hum tax kaisai bachain,
72 / interest rate = double amount.....so, given question ans to be option D. 8.5 years
Sir jab government hame tax vapis karti hai (ITR)
To phir y bharne ka system hi kyun bnaya hai
Please tell
Thank you
Sir agar fix deposit monthly insterest de raha hai to kab tds katega ?
Sir my anuual salary is approximately 4.0 lakh and my intrest income from bank us approximately 43 thousand in fy 2020-21.. For the financial year 2020-21 can I fill 15G form??
Sriram Finance mein ek fd kia 5000 ka usme kya 15g fill karna padega?
sir g ager hum 8 ya 9 saal kay bad fixed deposit may double milta hai. to kya ager tds form na bara to kya fir double se kam hi milay ga kya. koe bi bataday is ka jawab
If my mom deposited 2 lacs rupees to my bank ac from her ac in the same bank with the option of "gift from relative"..do i have to pay tax on that 2 lacs ?
Thanks sir...
Sir I am retired from private job at age of 58 ,please tell me in details what paper must be submitted in bank to save tax from my account and tds also
Sir year ki incam pr is sala tax nhi kta. Or income jyada h. Koi problm to nhi hogi
I am coming under 30% bracket of IT so will i have to pay only 30% and the tds of 10% will be refunded to me so at the end my income will be deducted about 30% is it right.
Sir Salary me jo TDS cut hota h use Save karne ke liye kya LIC me investment kar k TDS save kiya ja sakta h plzz bataye
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