Doubt regarding taxation on fd's

@neha1101
Mam this article corroborates what you have mentioned

Few questions-

  • If form 15g/15h are submitted then no tds is to be deducted for non senior citizens till 2.5 lacs interest and till 3 lacs for senior citizens. Have they changed this amount this year?
  • In this link TDS on FD: TDS on cumulative FDs: Your money loss is more than the tax deducted - The Economic Times they have calculated Loss due to non-compounding of TDS in the table. How is this calculated? I mean for Case 1, 22985 (Total TDS deducted) * 5.50 %( (Interest Rate)= 1265/- but they have mentioned the loss as 1035/- How has this been calculated?
  • My known senior citizen for whom I am asking these queries, had mutliple fd’s. Now what the bank has done is they did not deduct TDS from few fd’s but deducted more tds from the remaining fd’s. The total TDS deducted is 10% of the interest credited + interest accrued amount. It is just that for few fd’s the TDS deducted is NIL, whereas for the others they have deducted like 15-20% to match the total tds deduction. Can this lead to additional loss of interest or something for the accountholder?
  • Continuing the above point, we want to calculate the Loss due to non-compounding of TDS on all the fd’s. What information should we ask from the bank to calculate that manually and how exactly to calculate that?