Fixed Deposit (FD) Limit to Avoid Income Tax Notice || Fixed Deposit TDS Limit in 2024
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- Опубликовано: 27 авг 2024
- Fixed Deposit (FD) Limit to Avoid Income Tax Notice || Fixed Deposit TDS Limit in 2024
In this video, we delve into the world of Fixed Deposits (FDs) and explore the role of FD limits in avoiding income tax scrutiny. Discover practical hacks to manage your FD investments effectively to avoid getting any notices from the IT Department.
we also discuss the TDS Limit on FD and how you can minimise the both Income Tax and TDS.
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03:20 TDS is applicable only if FD Interest Income is above 40k per year. No TDS will be deducted if your interest is 16k as shown in example
Yes
Yess 💯
Yea true 🫡
two questions :
1. 40k interest for 1 calendrer year or financial year ?
2. Above 40k interest accrued or interest received un bank account ?
@@neeraj_dama financial year
your earn ure salary, pay taxes.. you spend your salry and pay taxes.. you save your salary and also pay taxes.. ghar aaakr hmse paisa cheen lo na..
Then go to Pakistan u people ate not needed here
Best comment 👌🏻👌🏻
sahi baat hai...
Modiji badi badi batein karte hain abtak salaried people se income tax ni hatwa paye, jabki desh k GDP me salaried income tax ka %age bhot kam hai.
sahi hai...bas hum log to sarkar ke liye kama rahe hain...Loot macha rakhi hai sarkar ne...
Why is nobody coming on the streets to oppose this Indian tax terrorism of the FM?
You are providing wrong information, interest earned upto 40 k and 50 k for senior citizens is totally tax free, No TDS deducte respectivaly 40 k and 50 k, you can sibmit Form 15G/15H if interest earned more then 40K/50k. If you filling ITR you can Claim your deductable TDS for refund....Thanks
Me pnb me 20000 ka fd kiya tha 2023 me abb interest me tds Katta hae
New tax this doesn't count right
4:30 A small correction, even FD INTEREST for senior citizens can be claimed as deduction upto maximum amount of 50,000 under section 80TTB
15 g and 15 h form submit
80TTB is applicable only in the old regime and NOT in the new regime.
@@skycraper143415g ka form kab submit karna
Sabse best hack dubai jao aur wohi kamao. Koi tax nahi barna. Sirf gst rehega😢
Agar India ki growth me sahyog karne ka chance mil Raha hai to kyu jyada money k liye apne India se bhage
@@aahhuujjaa Sahyog karne mein koi galti nahi hai lekin itna complex taxation ke chalte growth bhul jaoge aur sirf tax kaise bachaye karte sochte rahoge. Jab ek aadmi unemployed tab job ka tension, jab job lagi toh tax ka tension. Mein tax kam zyada karne ki baad nahi kar raha, atleast automate kar do. Saalon baad bhi income tax notice ka bhoot ghoomta rehega.
5% vat, only for business income. Salaried employees are tax free
@@therealprakash5% vat on almost everything and every transaction. I'm In UAE from before VAT was applied
Kitna useful hack h
what a timing --Thankyou so much
Welcome 😊🙌
For NRE acoount ?@@bekifaayati
A small correction: The exemption limit in case of HUF is ₹3 Lakhs as no Rebate is available to them. For Individuals it is available whose income is below ₹7 Lakhs
mam aap toh U TUBE QUIT kar rahi thi... aab kya ho gaya??? oo accha... us week mein koi topic nahi mila tha...isi liye ek emotional video daal diya tha...chalo koi nahi
😂😂😂😂😂
3rd point clubbing of income
2nd point tax liability devided in 3 years.
Kindly explain these two concepts. If there is any video for it, please provide the link.
No maximum limit on FD amount . Income Tax Department will not come to you as long TDS is deducted and you pay tax as per your tax bracket.
Ek video aaise hone chaheya jisme hum investment kr ske par tax na lge toh kuch aaise investment boolo
5:18 how it can be done, yeh kaise kar sakte h, Bank option deti h, ya ITR m karna h, kaise or kha, plesase explain in a video
Nice information, thank you for sharing this 👍
If you create an FD in Cash above ₹1 Lakh, Income tax can give you a notice asking for the source of the cash.
what of we do it from the bank account
@@asylum9868 Upto ₹10 Lakh won't be reported
@@asylum9868 If above ₹10 Lakhs, Income Tax is reported
Dekho bahan pahle app ya to Hindi me bol ya English me ...apki language me kuch samjh me nhi aya bs bich bich Jo high notes lgati ho voice k Bo irritate krte h
ye ladkiya aisi hi hoti hai bhai jyada English aati nahi aur thodi si English me ghamand aa jata hai 😂😂
4:30 wrong information.
Govt should ban such finance influencers spreading misinformation. It is govt responsibility if they are taxing the citizens, they should spread awareness on tax accountability.
Tds gets deducted even after filling that g/h form, because it depends on the interest earned amount.
Actually when calculations of tax considered on fd and savings interest. Why not government considered inflation into account.
Ma'am talk about PNB platinum Micro Rupaye Credit Card 💳 because no one can tell us about its benefit, charges, reward points etc in RUclips.
I hope you can see my comment and make a video on this topic ASAP.
You can opt for monthly interest also
Really good information sister
Thanks for information
Very useful video...🙏🙏🙏
thanks Sister.
Leaving RUclips ❌
Publicity stunt ✅
Nice to see you again
Comment me china vs india , development,road , infrastructure karu raat bhar TAX BHARU JHAANT BHAR YE WALE LOG BHUT HAI COMMENT ME😂😂😂
Im just wondering how could you miss the point of the TDS slab RS 40000 Taxable Interest. I don't know wheather you don't know it or you missed it intentionally😊 I wonder Why Didn't you mentioned that the deduction @ 10% TDS would only be applicable "If" the total interest earned on FDs for a financial year exceeds Rs. 40,000 or more. Bachhon ko darao mat yaar😊
If interest is above 42k then TDS on full 42k or on 2k?
Full 42k i guess
Bhai itna dimag ka dahi karna he keu hai Tax k piche sidhi baat hai ki bhai Bharat Mai rahoge to aam ki gutli jaise chusee jawoge har chizz Mai tax pay kar kar k ....
So simple solution is to shift to Dubai or any other countries where you'll get better option.
Another thing is that even after paying HIGH taxes in Bharat what are you getting in return?
1) Do your kid's are in govt school?
2) Do you go to govt hospital for cure?
3)Do police or any Govt servant behave nice to you?
And what not...... 🙂🥲
Small Doubt:
Example: Someone falls under 30% Tax slab
So he needs to pay 10% TDS + 30% Tax?
hahaha...aur kya...welcome to india tax system....better move to dubai
Ek point syd apne miss kr diya 10 percent tax deduction hoga but only on the amount of interest cross the limit of 40000 in a financial year.
Good to see the video. Welcome back
Thank you 😊🙏
agar fd mature ho 15 lakh ki aur amount saving account mein aa jaye, fir 2-3 din baad dubara iski fd bna do same amount or different amount ki (for example same amount15 lakh), this also shows in ais. ais mein 15 lakh ki fd show kar di, but yeh nhi show kiya ki yeh pehle se chal rhi fd hi hai 15 lakh ki jo pichhle 6-7 years se chalti aa rhi hai (get matured, then gets created again and so on)
Good information ji madam 🎉🎉 AAP ji kya Bank employee ho ? Please provide the Information about Pan Aadhar Link...
4:35 But U/s 80TTB Intt on FD is also exempted. (Only for senior citizens)
You have to be concerned only for FD taken with cash , not if entire amount is legal. I have more than 1.5 crores of FD but never got any notice
Quick question guys. So I have 8 Crores and am planning to open an FD with an NBFC which is giving me 8% annually. Which should come to 64 Lakhs per year. Now I want to setup the FD in such a way that the NBFC credits my interest every month so I have passive income for all my expenses. So 64 Lakhs / 12 = 5.3 Lakhs per month. Now how will I be taxed for this, how much % will I be taxed. Therefore how much will I get in hand per month from the 5.3 Lakhs after taxes? Please let me know.
If you have 8 fukin crore rupees get one meeting with CA will cost you 1000-2000₹ i think u can afford.
@@Sahil_777 yeah I suppose. But just wanted his insights too.
@@raaghavsh2926anything above 40 thousand rupees interest earned in a financial year will be 10 percent cut in tax, if pan card is provided. If pan card is not provided in ur bank or NBFC then 20 percent cut in interest earned by u in financial year.
@@raaghavsh2926bro if u have 8 crore rupees. Better invest in lands, plots, real estate, stocks, and mainly do some business with half of amount and save other half in FD. 😊
@@raaghavsh2926if ur business will click u will earn more than 5 lakhs per month as u said 5 lakhs interest per month. And what ever plots or lands or shares u have bought..if development happens in that area. U will be get more than 20 30 times of money u invested in plots/ lands.
Matlab agar 10% tds cut ho jata hai ..aur x amount account me baki reh jati hai..kya uspe bhi income tax slab ke hisab se tax cutega?
Matlab...agar main 30% tax slab me ata hoo...
matured fd amont y pe 10% tds => x
Then x pe 30% = z
Is this correct
30% slab apki " main income " ke upar hai... Interest is " other income " aur other income pe 30% nahi lagega... Other income pe other income ka tax lagega jo ki tds ke name se hai.... Jaha tak mujhe idea hai..
Thanks 🎉 , Great 👏👏
Do we need to fill 15G or 15H and submit to the bank or get this calculation done at the time of return?
Fill this form immediately after making the FD.
Need to submit in bank
Take a proper consultation from qualified personnel.
You can NOT submit 15G/15H all the time.
Will these rules be applicable to SBI Auto Sweep created FD's ??
An income of Rs 2 lac from KVP ( matured in 2023 ) is seen in INCOME FROM OTHER SOURCES --- will I have to pay tax on it ? if yes , how can I save it ?
Ye form sab bank me bharne hoga ya ek bar bharne se ho aur kitne sal tak bharna hai.
I want to make 2nd source of income by monthly 2.5 Lakh FD karna hain ..till 4 years.. how much tax i would be paying ? And how much i could save ..
Please let me know. 🙏
Nice info 👍
thanks for the Info
Welcome 😊🙌
5:42 can some help in managing the clubbing of income .... How can we smartly use this?
Make fd on your wife's name ,simple is that
Maine financial loan ka app dhund raha tha tab mujhe Mahindra finance ka app mila aur uske under maine loan samajh ke fixed deposit pe click kiya aur mene sabkuch filled up Kiya aur done hone ke baad.deposit karne ke liye bol rahe hai..abhi mujhe kya karna hoga . please explain me 😮💨
Ye madam toh rj Ashish ke video's me dikhti thi!!?🤔
Since the naration is made in both English and Hindi, it appears this tax deduction/ recovery method is applicable to tax payers from both English speaking countries and Hindi speaking countries.
Maam... Meri ek problem h plz solve kro.... Mere papa expire ho chuke h unke rupye ab mammy ke pas h to.... Abhi saving account h or bank me ek koi form fill hota h jisme fd se jyada return milta h mtlb fd bala return milta h or account saving ki tarah hi use hota h .... Is topic pe video bnao plz. Details me video bnana 🙏🙏
Fd se yada kisme ?
Btaoge
What is the way of smartly manage.
Aap toh videos post nahi karnewale the🤔
Mam apne konse bank ke fd karwayi hai mujhe bhi karwani hai bata dijiye for our safety
fd ,rd and savings a/c tax rules in case of 2or 3 holder a/c.and who is going to be tax payer in this case.
Great job j🎉o 👍
Thank you 😊🙌
What about NRI account ?? NRI FD's ??
RUclips Quit ka video banake chaap liya views 😂😂😂😂
good information aapki
Tax kat Gaya tov return kiss say barvaien gay,Kiunki CA tov bahut hi ziyada charge kartey Hain.
10 lakh se zyada ek hi bank me ho ya different bank me ek hi insan ki 10 lakh se zyada FD ho tb bhi income tax deduct ho jayega ?
Nahi hoga don't worry , 15 lakh Tak ki fd tak agar apka income 10 lakh se kam hai annually
Mod balance is fixed deposit also so uska bhi tax dena padta hai kya?
Different types of taxes ne sabko confuse aur disturb karke rakh diya hai. We r only taxpayers in the country.
I wanted know what about NRI,s whos holding FD in India ?
Plz avoid multiple closure and renewal of fd in a same year.. for example u made 3 lacs fd starting April, then in 3 months u made premature closure then again made another fd and so on.. department will think that u made multiple fds and later apply method Income - expenditure and accordingly u will get message for clarification
And it is requested to please regularly check your emails and e-filing accounts regularly so as to avoid any non compliance of income tax notices..
Basically this video is a waste of time because there is actually no way to save tax
IF MY AIS FORM SHOWING INCOME FROM INTEREST FROM FD AND SAVING BANK ACCOUNT THAN ,WILL I HAVE TO SHOW THIS INFORMATION IN MY ITR, IF YES THAN WILL I ALSO HAVE TO CLAIM FOR CONCERN DEDUCTION IN EACH CASE???
If you make an FD, it doesn't directly feature in AIS if its below 10 lakhs, only the interest earned is mentioned!!!
Secondly if i make an FD in my parents name and if the amount is more than 10 lakhs, won't this 10 lakhs show as their income for that particular year??? Don't they have to show the same as gift received??
Good video, thanks
Welcome 😊🙌
Thanks !
Can we save some Tax on Stock STCG or LTCG by investing in ELSS MF? Suppose,some has Income from Bank Interest 30k , Dividend 20k and STCG or LTCG 20 lacs ? If he invest ELSS MF for Rs 1.5 lacs , will he be able to take Tax benefit on STCG or LTCG ?
It looks like only you are understanding what you're saying. Slow down a bit and provide detailed info on the topic
Retired private employee ko sarkar kuch nahi deti bas TDS katati he
What about NRE account holders.
Please make a similar video on FD with NRE point of view !!!
Yes please make video
I wait for your videos ☺️
We are quitting RUclips 😂😂
Hi there think if you win on any fantasy app for example 2 cr honest but the main criteria is I am not employed do I have to pay tax if I do fd of 1 crore in bank pls help me mam!
Ma'am e- wallet with my KYC, load and unload karne se income tax mai koi impact hota hai kya !?
Annual Income 2.5Lakh se kam matlab interest se income ya actual professional income like salary?
Ye confusion clear karo please.
If someon saves 3lacs but declared income 2lacs on 15G in the same bank account,is it violates any rule?
Hlo mam meri pay aati hai government employee hu income pr tax kat kr ata hai. Rd se paise nhi jud rhe the maine bullet repayment gold loan lai liya or uski fd krva di. wo loan mai 6-7 month mai utaar du ga. Kya ab us amount pai bhi tax dena pdega ? Maine pehle hi tax diya hua hai apni income pr kya jo amout loan pe li hai us pr bhi dena pdega ?
THANK YOU
Half cooked knowledge
I feel your going too fast in video...please make it slow talk as we are seeing this video to understand not to rush
Thanks you madam
Welcome 😊🙏
U don't have any videos on your new forum?
Video se jyada information toh comments section m mil gyi 😂
Can a person make f.d. in a bank for 5 lakhs and in mutual funds 6 lakhs and in postal mis 3 lakhs in a same f.y. without income tax notice?
Yes
Well if u have white income and do ur ITR on time... Then no need to worry how much Fds u can do.. As long as u pay ur tds on time.. U can chill
Rbi ne rate wgera increase kra h kuch loans wgera pr toh usse fd par farak padega?
Is liye kehte hain ki diversify karo.. maine 6 ka 25 kiya hai 4 yr me after paying tax... Fds and mutual funds are outdated guys... My next target is 35 40 to 70 80 in 2 3 yrs...
6lakh ka 25 lakh kiya ?
@@virtualmaza513 yes...
Aap angrezi hi jhar lo ya to Hindi .. confused karti ho. Koi ek language bolo 😊😊😊
Thanks swt hrt🙂
Nice video's but reduce talking speed and if possible use hindi language.
Because my English is poor😜😜😜
Can I invest lump sum in fixed deposits?
Ministers , MPs , MLAs inke upar govt. koi IT nain lagaata hai..
True. Saab middle class aur common people par all rules 😢😡😡
For RD can you also brief please?
How to avoid clubbing of income ?
Half information or incorrect information is dangerous for wealth
At the time of opening FDs, bank employees never tell or provide us the Form 15G or Form 15H for senior citizens. Is there any way to reclaim the tax deducted in FDs ?
While filling ITR only
File ITR and claim Refund