TDS u/s 194a is cumulative of both savings bank a/c and fdr. if the total  int from both exceeds 10000 then tds will be deductible.

thanks for reply mam can i take deduction in income tax return

You will eligible to claim Credit of such TDS  deducted u/s 194A in your Income Tax Return. You can not be eligible to take such as  Deduction.... Correct it If I m wrong.....

IF your income goes beyond 10,000..Bank will deduct the TDS and give you TDS certificate by 30th May of the next year.

thanks  for reply sir tds deduct both a\s means saving a\c and fixed deposit a\c. and form 16a rec. 30 may by bank

TDS will only be deducted from intt on FDR and not from SB a/c if more than 10000 that to from one branch

The answer given by Sonu is the correct one i.e., TDS u/s 194A apply only on TERM DEPOSOT RECEIPTS (FDR) but not on SB a/c interest. You can claim such TDS deducted in your income tax return for the applicable assessment year. If any further clarification it is better to refer income tax act.

IT IS WRONG THAT INTEREST ARISE FROM SAVINGS ACCOUNT IS TOTALLY TAX FREE. UPTO 1ST APRIL 2012  IT IS  TOTALLY TAXABLE & AFTER 1ST APRIL 2012 IT IS TAX FREE UPTO RS. 10000.00. ON THE OTHER HAND TOTAL INTEREST PAID ( AGGREGRATE AMOUNT OF INTEREST FROM FD & SAVINGS IN ONE YEAR) BY BANK IF EXCEEDS RS. 10,000.00 THEN BANK DEDUCT INTEREST @ 10% ON SUCH AMOUNT.IT IS MORE REASONABLE AFTER 1ST APRIL 2012, BECAUSE BANK DEDUCT INTEREST ONLY ON TAXABLE INCOME.OF ONE PERSONS IF THEY HAVE NOT ANY OTHER INCOME THAN INTEREST INCOME.

oh yes  DIBYENDU Sir is right 

My ans based on AY 12-13 but I think you needed ans for AY13-14 

Originally posted by : DIBYENDU
	IT IS WRONG THAT INTEREST ARISE FROM SAVINGS ACCOUNT IS TOTALLY TAX FREE. UPTO 1ST APRIL 2012  IT IS  TOTALLY TAXABLE & AFTER 1ST APRIL 2012 IT IS TAX FREE UPTO RS. 10000.00. ON THE OTHER HAND TOTAL INTEREST PAID ( AGGREGRATE AMOUNT OF INTEREST FROM FD & SAVINGS IN ONE YEAR) BY BANK IF EXCEEDS RS. 10,000.00 THEN BANK DEDUCT INTEREST @ 10% ON SUCH AMOUNT.IT IS MORE REASONABLE AFTER 1ST APRIL 2012, BECAUSE BANK DEDUCT INTEREST ONLY ON TAXABLE INCOME.OF ONE PERSONS IF THEY HAVE NOT ANY OTHER INCOME THAN INTEREST INCOME.

Can you please tell refrence.

194A is not applicable on interest from savings bank. Interest on savings account is exempt income.

Now, let's see what refrence Mr. Dibyendu has to give.

Agreed wid Dibyendu...

Can any 1 pl. guide me up for counter insurgency and spl. tax free imits??? 

Thanx in advance...

Originally posted by : Abhishek K. Pandey
	194A is not applicable on interest from savings bank. Interest on savings account is exempt income. Now, let's see what refrence Mr. Dibyendu has to give.

agreed with abhishek....intt on saving account is exempt