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Matter of interest u/s 194a

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Guest

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Guest (Querist)
21 May 2012 good morning experts,
in this fy.2012-13 saving a\c interest if more than 10000 than bank will not deduct tds u\s 194a .but if my fd interest more than 10000 than bank will deduct tds @10% u/s 194a
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
21 May 2012 TDS is NOT applicable on interest paid on savings account.

It is applicable only on interest paid on fixed deposit and that too if the annual interest exceeds Rs. 10,000/-
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