Is tds deductable on savings bank interest
This query is : Resolved
07 December 2011
Is TDS deductible on Interest on amount kept in Savings Bank A/c
07 December 2011
Yes TDS is deductible on saving bank interest if the total interest during the period exceeds Rs. 10,000/-
07 December 2011
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 refer below link--
https://incometaxindia.gov.in/Communications/Circular/910110000000000662.htm
See 4 (d)
Please Refer:
Circular No 617 Dated: 22/11/1991.
Sec 194A not applicable on Savings Bank Interest.
Please refer below link--
https://incometaxindia.gov.in/Communications/Circular/910110000000000662.htm
See 4 (d)
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CA Navin Jain
(Expert)
07 December 2011
yes, tds is not deducted on saving bank account interest.
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