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No TDS on Bank Interest

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Querist : Anonymous

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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...
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jagan sai

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jagan sai (Expert)
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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