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#PsuBanks
Maybe rally isn't over yet... Personally adding psu banking stocks for mid term rally 🤝
To buy when others are selling & to sell when others are euphorically buying Take the greatest courage but provides the greatest profits
~John Templeton
All About Fixed Deposits
Fixed deposit (FD) is a tenured deposit account provided by banks or non-bank financial institutions which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account.
Applicable:-
TDS is applicable only if FD Interest Income is above 40k Per Year For non senior citizens , For Senior citizen Above 50k per annum. IF F.D AMOUNT MORE THAN 10L THEN BANKS CAN SEND YOUR DETAILS TO ITD(Income Tax Department)
Tax Rate:-
Tds - 10%(If pan card attach)
Tds - 20%( If pan card not)
Tax Limit:-
There is No Tds(Tax Deducted at source) If Interest Amount below 40k for non snr citizen
For Ex - F.d amount is 10L
Interest rate - 7%
Returns - 70,000
70,000 - 40,000 = 30,000 × 10% = 3,000 Taxable Amount
If You are in 2.5L or 5L Tax slab Then You can save that amount by filling 15G Form
Q/A
How to fill 15G/15H Form
:- Go to Bank and take 15G/15H form to fill
When to fill 15G/15H Form?
:- Beginning of Financial year(April)
Why to fill?
:- To save TDS(10% Of interest amount)
Repost from UNCULTURED TRADER
#DOT (Spot Buy) 🟢
Entry - 8.446 -- 8.946(Add On Every 6% Dip) Till 6.827
