TDS Rate on FD Interet in CITI Bank?

Go to Citi Bank and ask them

Check this link:
http://in.rediff.com/money/2005/jan/07nr...

Contact citibank for further information.

Payment of interest
Tax : 10%
Surcharge : 10% of tax
Education Cess : 3% of Tax & Surcharge
Overall TDS rate : 11.33% if surcharge is applicable and otherwise 10.30%.

Payment of interest
Tax : 10%
Surcharge : 10% of tax
Education Cess : 3% of Tax & Surcharge
Overall TDS rate : 11.33% if surcharge is applicable and otherwise 10.30%.
Shreya answer is right

tds rate is fixed by govt. of india as 10 %, plus applicable surcharges. citi bank does not its own rate. all banks can deduct TDS as per government directives only/.

Under Section 194A all the banks have to deduct TDS @ 10% if the interest paid/payable is more then 10000.00 in the FY 2007-08.

The surcharge and education cess is also applicable as per income tax rules.

If interest on deposits is less than 2500/- P.A , then no T.D.S
If u r a non -tax payer ur income for the A.Y is less than 110000 . then no tax is to be deducted provided u have to obtain & filled up Form 15g & deposit it with CIT (In most of the cases bank facilitates in the deposit of the form 15g)
otherwise tax is 10%+ surchrge if any+sercive tax

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