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Which FD to go for?
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<blockquote data-quote="rdst_1" data-source="post: 1919111" data-attributes="member: 25986"><p>Actually it is not the right way to go about it. TDS is deducted at 10% but in actuality you may be required to give 30% as income tax depending on which tax bracket you belong to.</p><p>The right way to go about it is fill in the form 15g and then show the interest earned as part of your income and then pay the tax on the total.</p><p>That 10% TDS is just a stopgap measure put in place so that at least some interest gets charged in case people don't declare their income properly.</p></blockquote><p></p>
[QUOTE="rdst_1, post: 1919111, member: 25986"] Actually it is not the right way to go about it. TDS is deducted at 10% but in actuality you may be required to give 30% as income tax depending on which tax bracket you belong to. The right way to go about it is fill in the form 15g and then show the interest earned as part of your income and then pay the tax on the total. That 10% TDS is just a stopgap measure put in place so that at least some interest gets charged in case people don't declare their income properly. [/QUOTE]
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Which FD to go for?
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