HOW TO SAVE TAX ON FIXED DEPOSIT INTEREST
Hi friends ,we are going to discuss about, how
you can save tax on fixed deposits. So many people face this problem when they go
for collecting their interest during the end of one year of fixed deposits and
they come to know that their is tax deducted on their earn interest. When they enquire about it and they will come to know
that their FD interest is above 10000 so their is TDS/tax on that .
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Yes friends their is always tax on your fixed
deposit interest ,if that amount of FD
above Rs 10000. So what to do now , friend no need to worry about, there are simple
solution for it .
WAYS TO AVOID TDS/GET BACK YOUR TDS
First thing to do is that, if you are going for
FD then don't miss form no 15G and 15H (know more about 15G and 15H) .because
these form help you to save your TDS/tax on FD interest. If you attach these forms 15G
and 15H with your documents of FD then bank will not deduct any amount on your
earn interest.
If your TDS is deducted by bank then also no
need to be panic ... Because you can get this TDS/tax amount back.. Just keep
in mind to file income tax return. This is the way you can get refund your TDS/tax
amount which is deducted on your fixed deposit interest .
(KNOW HOW TO FILE INCOME TAX RETURN)
WAYS TO AVOID TDS on FIXED DEPOSIT
THROUGH FORM NO 15G and 15H
As you go for fixed deposits scheme first thing
come in mind that what will be TDS/tax on my fix deposit interest which I will
get at the end of tenor of fixed deposit . So there is no need to worry about ,
that how you can save tax. First step for saving tax is just submitting the form
15G and 15H which is given by bank. This forms available for both senior
citizens and other individuals.
( know more about forms)
SAVE TAX ON FIXED DEPOSIT INTEREST
TIMING FACTORS
You can also avoid TDS/tax on your fixed
deposits if you keep in mind the period
of your fixed deposits. If you are investing money in fixed deposit scheme keep in mind that your fixed deposits interest
does-not exceeds Rs 10000 in that half year during any financial year .
For example -- you are starting with financial
year 2013-2014 then invest your money at the end of 1 October 2013 this come in
mid of year and on that fixed deposit amount you are earning Rs 10000 interest
then there is no TDS/Tax will charge on that amount. By doing this your
splitting your financial year.
DISTRIBUTING FIXED DEPOSIT AMOUNT
If you really want that your TDS/Tax should not
deducted by bank so for that you can split the amount into different bank.
For example -- if you have Rs 200000 in your
hand. So you have to just open fixed deposits account into different bank like Rs
50000 in bank A ,Rs 50000 in bank B like this you can split your fixed deposit
amount and you can save TDS/Tax on that amount .
SPLITTING FIXED DEPOSITS MONEY
Another effective way to save your interest is
that if you are come into a HUF status .in this case you go for personal
deposit and also can create fixed deposit account as per HUF status because
individual and HUF both treated as separate identity. So you can go this method
and whatever amount of interest you will earn come under different heads .
But if after doing all this your tax is
deducted there is only way to file return for that amount
SAVE TAX ON FIXED DEPOSIT INTEREST
If want to file income tax return contact here
7875543846/8087748287
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