Just
wanted to share an important announcement that is usually
misinterpreted by many of our clients. As per the new Finance bill
2015, effective from 1st June 2015, the interest earnings
on Recurring Deposits would also be subject to TDS at the banks. This
means that going forward, interest earnings for Fixed Deposit and
Recurring Deposit across all the branches of the bank would be
subject to TDS beyond the exemption limit. Previously, the exemption
limit was made available at branch level but now the rule has been
amended.
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