Save Rs 499. Go Ad-Free with CAclubindia Pro for 2 Full Years. Subscribe Now!

banner_ad

Is tds deductable on savings bank interest

This query is : Resolved

Share Report Follow Query Ask a Query

vipesh (Querist)
Follow

07 December 2011 Is TDS deductible on Interest on amount kept in Savings Bank A/c

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

07 December 2011 Yes TDS is deductible on saving bank interest if the total interest during the period exceeds Rs. 10,000/-

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

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)

Message likes : 1 times

CA Navin Jain

CA Navin Jain (Expert)
Follow

07 December 2011 yes, tds is not deducted on saving bank account interest.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CCI Pro

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

CCI Pro

Meet our CAclubindia PRO Members

Pro Member Fahima Malik

Fahima Malik

Pro Member prakash takane

prakash takane

Pro Member Mikilesh Shah

Mikilesh Shah

Pro Member Jinal Patel

Jinal Patel

Pro Member Mohit Kumar

Mohit Kumar

Follow us

add to google news

Answer Query

Quick Links

Browse by Category

Latest Job Openings

View all

ARTICLESHIP 27 May 2026

CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details

Featured 26 May 2026

Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details

19 May 2026

Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details

29 May 2026

Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details

19 May 2026

Accountant

ca kunjan

Mumbai

CA Inter

View Details

26 May 2026

Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details

29 May 2026

Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details

ARTICLESHIP 31 May 2026

Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details