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How to SAVE TDS on FD😠 (Fixed Deposit)| Important Financial Advice
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- Опубліковано 16 сер 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: labourlawadvis...
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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.moneycontr....
Corporates interest rate: www.moneycontr....
Bank Interest rates: www.moneycontr....
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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
ua-cam.com/video/raW2FIPnqIc/v-deo.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?
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
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…
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
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.
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...!
Pl updated this according to new income tax .
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.
2 साल पहेले tax deduct हूआ है तो ,दो सालबाद वो tax return मिल सकता है क्या?अगर tax returnमिला है लेकीन कम मिला है इस condition में दो साल बाद revised ITR form भर सकते है क्या?
10k interest or 40k interest exempted from TDS?
*Question #44*
Ans.:- 72/8.5%=8.47(8.5 years) will get doubled.
Correct ans.:- D) 8.5years👍
Rule 72
Option D: 8.5 years
(Using Rule of 72)
आपके त्थ्यात्मक और सुचारू विश्लेषण और जानकारी के लिए बहुत शुक्रिया। आर्थिक विशयों पर बहुत सारे गलतफहमियां युट्यूब मे चल रहा है, उसी परिदृश्य मे ऐसे प्रोग्राम बहुत ही सराहनीय है
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?
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.
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! ❤️
Sir i am planning to do 2 FDs of 50,000 each... For 18 months with 8% intreset in the same bank... My annual income is 4L 30k... My interest for both FDs will be around 10-12k... So i do i have to fill Form 15G so that bank doesn't cut my tds ?
Sir
Pls update and shoot the video 🙏
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
Option D..8.5 years
rule 72
Paytm cash mil gaya kya ??
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...
If someone has interest of 9900, then no TDS will be deducted
If someone has interest of 10200, then 1020 TDS will be deducted .
It seems something unfair.
I think it is fair. Earlier there was no such rs 10000 and below exemption. But few years back it was added.
Rule 72 as you as said earlier. 72/8.5. = 8.4~ 8.5 the amount will be doubled
9 year
First comment 😋😋
8.5 years
Abhi Raj RR bglb VM mmnfc f. b
Fgjbgjff
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😇
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
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
1:38 in example 2 where is the calculation of surcharge and cess?
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.
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
A new video on this topic as per current rules and regulations will be helpful.. thank you
I have made fixed deposits of Rs 10 lakh in nine banks for ten years(total 90 lakh). From this fixed deposit I will get about fifty to fifty five thousand rupees per month (according to the current rate of fixed deposit). Now my question is how much money will I have to deduct TDS per month for this? Please someone answer my question
72 / interest rate = double amount.....so, given question ans to be option D. 8.5 years
Actually my mom age 65 yrs old having annual income ₹90000 as income from Senior citizens saving scheme . But on 31st March and 1st July TDS is deducted from interest. What to do.???
File the ITR
*please don't ignore*
Sir I have a question..
If I make a FD of 5 lakh..
Then should i have to pay TDs amount even after submitting 15G form ?
And how the total income calculated for Charging TDS ?
Is the total income calculated on interests ? Or on Deposits I made.
Please reply I need the answer
Depends on your duration of the FD as well as rate of interest that u are getting post maturity. If the interest post maturity is greater than 10k ,then u will have your tds 10% cut on the interest amount from the bank itself.
Sriram Finance mein ek fd kia 5000 ka usme kya 15g fill karna padega?
Hi sir u need to update the video... it's Rs 40,000/- now per fiscal year and Rs 50,000/- for senior citizens.
If you don't update your videos or delete the old people will get wrong message. Kindly do the needful
If my
annual salary is 2,40,000/- and
FD interest is 20,000/-
as overall will be 2,60,000, Then I need to pay Tax ?????
Please explain interest paid and accural interest
Which should be reported
8 years 5 monts 19 days 9 hrs 52 mins 56.5 seconds me Paisa double ho jaayga
I am a PhD student and my annual income is 3.72 Lakh. I have two FD account and total interest from those two FD accounts is less than 10K. Do I need to pay Tax, because as I am a student I have the doubt of 2.5 lakh limit for TAX? And do I have to fill the 15G form to avoid TDS?
Fellowship is exempted from income tax rule
If I close my FD and that money gets credited to a bank acount. Will that money will be considered as my taxable income?
Valuable information...muje is bare mai pta hi ni ta...Aj hi 15G bharta hu
If a person's income is only "interest on Fixed deposits and Savings account interest and no other source of income should he or she has to pay income tax. ?. if his income is around 2 to 2.5 lakhs per annum. (mostly the persons who worked in private sector and do not have any pension facility at their old age and the ALL FDS are their life time savings and interest is his or her livelihood )
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
I deposit 100000 Rs every 46 days as FD at ROI 3.9% pa, the interest that I get is 492 on maturity. TDS deducted is 10% flat by the bank [Rs 50]. I'm in taxable range of 30%, submitting Form 15G doesn't help. How can I avoid TDS?
नमस्ते सर,
मेरा एक सवाल है आप से ।
मेरे बड़े भाई ने F.D किया है पंजाब नेशनल बैंक में 7 लाख रूपये की 2 साल के लिए।
उसको तोड़ने की अवधि जून माह में 2020 में थी जो की अब वह Automatically बढ़ा गई है 2 साल के लिए क्यूँ कि भाई जी समय पर बैंक नही पहुंचे इस कारण वह बढ़ गई 2 साल के लिए।
अब आज मै बैंक गया था उनके साथ और जो F.D का डिपार्टमेंट देखता है मैं उनसे बोला क्या करना होगा इसको पैसे को निकालने के लिए तो उन्होंने बताया की आप लिखित में मुझें दो कि आप का F.D चल रहा है इस शाखा से तो मुझे interest certificate दिया जाए ।
मेरे भाई ने लिख कर दिया Signature करके तो बैंक के कर्मचारी ने एक Certificate दिया है । जिसमे Gross paid और TDS collected लिखा है ।
आप से इतनी जानकारी चाहिए कि क्या 2017 के बाद जो F.D हो रहे है उनमे कुछ बदलाव किया गया है क्या ।
नोट- मेरे बड़े भाई का कमाने का कोई जरिया नही है उनकी पत्नी सरकारी हास्पीटल मे थी लेकिन वह अभी retired हो चुकी है और जो पैसा उनकी पत्नी को मिला था उसी पैसा मे से 7 लाख रूपये मेरे बड़े भाई ने F.D किया है ।
बैंक का कहना है कि आप को ITR फाइल करना होगा ।
क्या करना है कैसे करना है मुझे बताइए कृपया करके।
Thank you.
Self Vipul Tiwari
Sir , I am getting intreset more then 10k , So as much I understood from ur vdo ...sould I need to invest in a way to bycaught from TDS need to invest on others bank so that I got the intreset from each bank under 10k
Dnt worry... Now the limit is 40000 not 10000
kaunsa development kiya aajtak kisi bhi sarkar ne?
School sab private ja rhe hai majbori mein aur wahaan loot machi huyi hai
Hospital private jana padhte hai
Clean water ke liye RO lagane padhta hai
Bijli ke liye inverter
Police ko ghus deni padhti
Govt offices mein bina Rishwat diye kaam nhi hota
Hotel mein khao to tax,
Ghar mein koi bhi saman repair karwao to usmein bhi tax
Highway Roads banane se bachne ke liye sarkar ne us pr bhi unlimited TOLL-PLAZA laga diye TAX ke liye
Koi plot kharido to usmein bhi tax aur use becho to usmein bhi tax aur na becho ghar banao to us par bhi tax
Koi bhi saman kharido us pr bhi tax
MEDICINES tax pr 18% tax laga rkha hai
Iske baad Income pr bhi TAX
Bachao to usmein bhi tax
Bank mein dalo to usmein bhi tax
Stock ya Mutual fund mein lagao to nuksan ho gya to public bhare nuksan pr agar kamai ho gyi to usmein se sarkar ko tax do
Tax tax TAX!!!!
Aur is tax se neta khud ko malamal krte hai croro ki properties bna lete hai aur public ko bola jaata hai aur TAX DO.
Pta nhi government ki is HAFTA-WASOOLI ke liye protests kyu nhi hote hai !!!!!!
Another Option is Open an account in any of family member senior citizen who has no source of Income .Make an FD and submit Form15 G/H Online
TDS on 10,000 is monthly interest income or yearly or complete tenure??
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 mein ne 20000 ki FD ki kotak 811 a/c mein , total a/c balance 30,000 hein, but TDS applicable bol Raha hein , aur Mera new khata khol to uspar 10 lac to 25 lac annual income show ho Raha hein but under 2-3lac hein what I do
Thanks a lot sir for the formula of 72. Answer is option D) 8.5years
Very well explained. Hum chahte hai ki aap best fd savings plan batai sabko..
Answer is option D - 8.5 years (72÷8.5)
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
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.
I want to know that .....if I come under 2.5 lakhs anuual income limit and I had made a fixed deposit of 10k for one year at intrest of 7 % then the intrest amount AT the end would be 700 rs
WOULD THERE BE ANY TDS OR TAXES APPLICABLE ON SUCH SMALL INTREST AMOUNT .
WOULD I BE GETTING DEDUCTED INTREST AMOUNT FROM PUBLIC SECTOR BANK ON EVEN PAN CARD REGISTERATION
Hi sir, it is a very good info provided by you. Thanks
I have a question, agar PF amount 50,000 Rs. Se jyada hai toh kya TDS cut hoga?
For Example :-
Employee share - 43000 Rs.
Employer share - 26000 Rs.
Pension share। - 13000 Rs.
Iss condition me kya TDS cut hoga, agar cut hoga toh isko (TDS) cut hone se kese bachaya jaye please give a genuine answer.
Should be non-taxable. Because its PF
The tax process should be more simplified..this is very complex ..
Answer is 8.5 years for Bank Interest
Rule of 72.....
According to this rule it will require 8.47 years ....!
D option 8.5 year
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 ?
Sir, agar 10 साल की FD post office main karai hai 50000 Rs ki to Muture amount 1lakh milega ki TAX lag जाएगा usme भी???????? Please sir batay 🙏
Sir your video are so much imp in life thank you very much sir 🙏🙏🙏🙏
Sir. 11 lakh ki Fd h or Monthly payout milta h and 15G form submit h to, Tax kitna deduct hoga?
Sir, Option D- 8.5 years
Sol- 72/8.5=8.47
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?
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
Sir mera father ka15 Lakh ka FD tha. Maturity pe dhekha about 1.5 Lakh Tds cut hua. Ab dekha fy 17-18 me 40000 cut hua tha. Unaka 9000 per month pension hai or senior citizen Vi hai. Ab kaise 17-18 Sal ka refund Karu. Please help
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?
Maam
Mera principal fd amount 6 lakh tha.
10 saal me interest ke sath total amount 11 lakh ho gaya tha.
Iss month me mere bank ka interest rate thoda badh gaya to maine wo 11 lakh ke fds premature cancel kar ke immediately phir se naye fds bana liye. (same bank)
To kya unn fds ko new fds samjha jayega??
To kya bank unn FDS ko IT Dept ko report karegi?? As a new fds? (via SFT)
Will i get a notice from IT dept??
Sir meri mother ko sirf FD ke interest se income hoti hai jo ki around 2,30,000 hai toh kya bank iss income amount pr TDs katega?? Kya hume form15G fill karna padega?? Please btao 🙏🙏🙏
Suppose My salary is 10LPA inhand and I'm making 55k per month from freelance after TDS. Do I have to pay income tax on my freelance income also.
Rule 72
8.5% interest rate se duble hoga 8.47 years
Now rule changed from Rs 10000 to Rs 40000 for TDS slab.
If my income is 2.45 lakh and interest from FD is less than 10000. Then should I pay tax?
My bank deducted tds on interest of 20000 paid quarterly in the month of may 24 as I have not submitted 15h.. Can bank deduct tds for interest amount less than 50000 as I am a sr citizen.
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.
Answer is C. Ashok Kumar Paul, hsp
Option D - 8.5 yrs.
Ans D, 8.5 yrs. Ravi Kumar Paul, hsp
Mene 5 lakh ki mip fd ki bob me 1 sal ki, premature close kar di 6 month bad to tax kat gaya, what to do now?
Answer:[option] D: 8.5 Years
2019 ke bad ₹10000/- ₹40000/- ho gaya for general people & ₹50000/- senior citizen..
i want to close tax saver fd urgently
bank telling up to 5 years
you unable to close
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?
quistion#44
ans is (D) 8.5years
Sir agar hum 1 lakh ka FD kore 1 year ke liye pnb mein, ismein to tax or tds nahin katega to ??
Sir hume NBFC me 20k ka FD May 2019 me karwaya tha uska interest Rs. 1937.00 /- may 2020 me mila koi TDS nahin kata gaya hai. Use hum ITR file karne me kahan show karna hai? Sir jarur bataye....
The answer is 72/8.5=8.470 so option D ll be the answer
Mein ne 20000 ,7.25 mein cumulative mein FD banayi 23 month.
Sir agar fix deposit monthly insterest de raha hai to kab tds katega ?
Sir jab government hame tax vapis karti hai (ITR)
To phir y bharne ka system hi kyun bnaya hai
Please tell
Thank you
TDS is one type of advance tax collection by deductor. People evade tax even after giving form 15G/H. Why teach people to evade tax. Majority of people think on the principle "No TDS, no tax liability" or "TDS, no tax return". These are the prevailing practice of even educated people. Hence, your video will not help to promote IT law, but will encourage people to evade tax by avoiding TDS. Govt. refunds the excess TDS with interest to the assessee. Then why should they be afraid of TDS.
How many times can I get benefits of a tax saving account deposited for 5years
Please intimate whether TDS is applicable on earning from RD account on maturity
Can u explain in english