No TDS on Bank Interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 May 2011
Respected Sir,
As per Provision of Sec.194A, no TDS is to be deducted on saving bank account interest. But I want 2 knw the reason 4 the same...There must be some reason 4 such provision made by CBDT. Kindly pls reply to dis query..Thank U...
As per Provision of Sec.194A, no TDS is to be deducted on saving bank account interest. But I want 2 knw the reason 4 the same...There must be some reason 4 such provision made by CBDT. Kindly pls reply to dis query..Thank U...
26 May 2011
you get very nominal amount of interest on savings account balance. That to its a type of saving ..so, you are not consuming the income.hence, exemption has given
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