TDS limit 40000

TDS on Fixed deposit new rule 2019

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TDS on interest u/s 194A, the rule has been changed for FY 2019-20. Now limit for TDS on FDR has been increased from 10,000 rupees to 40,000/-

Earlier it was 10,000 rupees only. It means banks were deducting TDS on FDR if income exceeded 10,000 or onwards. Now you no need to worry for 15G 15H form, if your income of interest is below 40,000/-

This is good news for all bank and post office customers. Sometimes customers forget to fill 15G form in the bank, Bank deducts TDS @ 10 percent. But now If you have FD (fix deposit) and total interest is only 40000 in a financial year. You no need to worry.

Read this also: 15G form online

TDS rate 2018-19 AY 2019-20

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