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.
You do not need to report interest earned on tax-deferred accounts, such as Traditional IRAs or 401(k)s, until you withdraw the earnings. Reporting interest income on your tax return . Taxable and tax-exempt interest is reported on Form 1099-INT, part of your consolidated tax reporting statement from Fidelity. Even if you do not receive Form 1099-INT from other sources, you must report any taxable interest income on your tax return.