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--
http://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--
http://incometaxindia.gov.in/Communications/Circular/910110000000000662.htm
See 4 (d)
Message likes :
1 times
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Form 121 of income tax
- 10% pre-deposit for gst appeal
- Tax on selling redeveloped resi property
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
