(Original for verification and self-attested copies for submission)
|Identity Proof||PAN Card, Driving License, Passport, Voter's ID, Aadhaar Card|
|Addres Proof||Passport, Driving License, Voter's ID, Aadhaar Card, Utility Bill, Bank Statement, Bank Account Passbook (Updated and no more than 3 months old)|
|Signature Proof||PAN Card, Driving License, Passport|
|Latest Passport Size Photographs (4 copies)|
You become liable for TDS* when the aggregate interest you earn for all deposits held in a particular customer ID is greater than Rs. 40,000/- (Rs.50,000 in case of senior citizen) in a financial year.
TDS is deducted every time the Bank pays/re-invests interest during the financial year in accordance with the provisions of Income Tax Act as amended from time to time.
When interest amount is insufficient to recover TDS, the same is recovered from the principal of the deposit.
Yes, in case of reinvestment deposits, the interest reinvested is post TDS recovery.
TDS is deducted every time the Bank pays/re-invests interest during the financial year. TDS is also deducted on unpaid interest accrued at the end of financial year viz. 31st March.
Familiar with some fundamental rules that'll make sure you enjoy life without getting broke at the end of the month?