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What is TDS.? what is 15g form and value of pan card in bank.?
i made an MIDR ( in which we get monthly interest in my saving account.) for rs 50,000 @ 9.25% but interest is 4624 per year and 385 per month.. but i am getting 306 per month. what should i do. i filled 15g form and gave my pan no. My monthly income from midr is 2200 rs
• 1 day ago
i am right on my part.. what should i do.. i am planning to go to consumer court..
2 Answers
- HandeLv 78 years agoFavorite Answer
It looks your PAN details are not available with the bank.
The deduction should be 10 % if PAN number is available and 20% if the PAN details not available.
You have to settle with the bank giving your PAN number.
- 8 years ago
Since the interest is less than Rs.10,000 per financial year, there will not be any tax deduction if you submit PAN number to the bank.
So immediately submit PAN number to the bank. If you do not submit your PAN details to your bank, they will go on deducting 20% TDS on the interest (385 less 20.6%=306/-). If you submit PAN, then they will not deduct any TDS on the interest.
Form 15G is only for those who are getting more than Rs.10,000 interest per financial year.
