Kim /kim/ [1 syll.] as a boys' name (also used as girls' name Kim) is pronounced kim. It is of English origin. Short form of Kim-names like Kimball or Kimberly. Kim is also a Korean surname meaning gold. Literary: name of the boy hero of Rudyard Kipling's novel Kim.
Tax deducted at source becomes applicable when the depositor exceeds the cap of Rs.10,000 of interest earned in a financial year of a fixed deposit account held at a branch. Tax deducted at source or TDS is deducted with every payment that the bank make towards an account that is earning over Rs.10,000 as interest. Furthermore, TDS is deducted even if the amount has not yet been paid to the account holder physically.
When Taxes Are Due. Your bank will pay you the interest periodically on your CD. The taxes are due on taxable interest in the year the bank pays it to you. The interest is reported on Form 1099-INT, in Box 1.If you have to pay a penalty for early withdrawal, it will be shown in Box 2 on the Form 1099-INT.ualifying people under age 50 can contribute up to $5,000 in an IRA each year as of 2012. The interest is added to the account each compounding period, and you do not pay any taxes on the money until you withdraw it at retirement age.