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Tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 June 2013 if interest on tds is deposited in bank a/c of customer it's an income so is it taxable?
when does an assesse receive interest on tds bec normally we receive net of income after deducting tds element.then why this int on tds?
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Ganeshbabu K

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Ganeshbabu K (Expert)
13 June 2013 1)interest on tds is payable along with tds dedcted to the credit of government.

2)Please do check once it may be refund of incometax claimed in your ITR credited to bank account with interest.

3)if deductor delays in paymnet of tds to government he need to deposit tds with interest to government

Thanks & regards
Ganesh babu k
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