I have a salary account in Citi Bank,
I used keep my savings in citi bank Multi deposit scheme.
I'm doing this for past one and half years, But I came to know that there is TDS on Deposits if the Interest earned on FD's cross 10,000 INR.
I used to save small amounts of 10K for every 3 months lock-in for 90 days or 180 days now it became 2.2L + again I deposited another 30K and from April'16 I earned a Interest of 7,330 INR. But these Deposits or closed.
The Maturity date of 2.2L and 30K is March 2017 and total interest for the year 2016-2017 will exceed 10k, so TDS is calculated for all the interest earned for all the deposits together or Individually?
Pls give this Info