Stuck Somewhere?
search - groww
My Tickets
My Account
Stocks
Mutual Funds
Gold
FDs
US Stocks
Orders
About FDs
Taxation
Withdrawal
How To

What is the tax applicable on the Bajaj Finance FD?

- Interest earned on FDs is taxable
- There is no tax deduction for interest amount up to Rs 5,000 in a year
- If interest exceeds Rs 5000 in a year, then tax will be deducted at a rate of 7.5%. However, tax will not be deducted in case of submission of the following forms:
- Form 15H – For Senior Citizens (60 years & above)
- Form 15G – For citizens with age < 60 years
However, if the interest amount for the year exceeds Rs 2,50,000 (Rs 5,00,000 in case of Senior Citizens) across all Bajaj Finance FDs, TDS will be deducted even if Form 15G/H has been submitted. 
We hope that this answer was helpful!
How was your experience?
ⓒ 2016-2021 Groww. All rights reserved, Built with in India