194 a

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krishna bhaskaran (Querist)
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04 July 2014 Is interest received by a person upon several deposits held in the same name in the same bank accruing less than Rs 10000 as interest upon individual deposits?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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04 July 2014 Yes TDS required to be deducted u/s 194A in the case mentioned above.

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krishna bhaskaran

krishna bhaskaran (Querist)
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05 July 2014 If so, the individual has income lesser than the basic limit and the bank has taken a declaration that the individual is filing his return and thereby not deducting tds, is it necessary to file returns?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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05 July 2014 Yes yes should file your return though its not necessary if your income is less thean exemption limit and TDS has also not been deducted from you in interest.

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Rupesh Jain

Rupesh Jain (Expert)
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05 July 2014 if your income no more than exemption limit then no required to file the return.

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