Originally posted by : ARINDAM
	Agreed wid Dibyendu...

Please try to give refrence. I am not aware of any notification or circular which says that TDS on svings bank is to be deducted.

The Exemption of Rs 10000 is only on interest from Saving accounts not on Fixed Deposits, Because I have Converted my Saving Account in MOD (Multi Option Deposit Scheme) with SBI, and When Ever Interest is Credited by Bank TDS is Deducted by Bank.

Thanxxx

IF FORM 15G/15H IS GIVEN THEN TDS IS NOT DEDUCTED MAY BE THE INTEREST ON FD IS ABOVE RS. 10000/- P.A.

Int income on FD relates to 10-11. Int income has been shown in books but tds benefit was not taken in that year.what should I do.can I take it in current year.

To Mr. Abhishak K. Pandey 

Sir, I dont think that there is no circular issued by I.T. department on non TDS deduction u/s 194A from Savings Bank Account. This is not required because under 194(A) (3) tells some field where no. TDS will be is required to  deduct on Interest payment such as Interest payment to Govt, Bank or any financial instatution where Banking Act 1949 applies, by partnership firm to its parterners, co-operative society to its members, any interest payment on such deposit scheme notified by Ceneral Govt. such as Interest from KVP,IVP, NSC etc. but Savings Account is not in the list of 194A(3), Moreever don't think that Interest arise from Savins Bank Account is exempt Income , It is taxable under the head of 'Income from other Sources'. Also RBI on his circular 3/2010 DT. 02.03.2010 says that all bank deduct tds U/S 19A on interest arise from Fixed deposit & Regular deposit account. 

To Mr. Ravi Singhal I think you revised your return u/s 139(5) before 31.03.2013 and claim TDS deduction for the respective financial year.You are not entitled to claim Tds deducted in one F.Y. to another   F.Y.

yes there is no tds on the saving bank interest upto AY 12-13 but from AY 13-14 there will be tds on the same if the interest amount exceeds RS/- 10,000 in the finanical year. but if bank by mistake deeduct tax on saving  bank account in AY 12-13 in the first or second quater than what to do