Fixed deposit interest provides passive income for many Indians but is subject to TDS under the Income Tax Act. TDS is deducted at 10% if interest exceeds ₹50,000, with senior citizens enjoying a higher exemption. Forms 15G and 15H can help avoid TDS.
​Fixed deposit interest provides passive income for many Indians but is subject to TDS under the Income Tax Act. TDS is deducted at 10% if interest exceeds ₹50,000, with senior citizens enjoying a higher exemption. Forms 15G and 15H can help avoid TDS. by Soban News (international And National News)
