Saving bank interest

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shrikrishna

shrikrishna (Querist)
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25 July 2015 whether TDS is deducted on interest received from saving account?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 July 2015 No TDS deducted on savings account interest.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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25 July 2015 TDS deduction is not attracted on Savings Bank Account Interest.

Please Refer:

Circular No 617 Dated: 22/11/1991.

Sec 194A not applicable on Savings Bank Interest.

Please See 4 (d) from below link--

http://incometaxindia.gov.in/Communications/Circular/910110000000000662.htm