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Tds

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(Querist)
21 April 2014 Section 194A states that tax need not be deducted at source if the interest arises on deposits OTHER than term deposits. For this purpose, term deposit includes recurring deposit right? and tds will be deducted?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
21 April 2014 no. term deposits don't include recurring deposit and no tds is applicable on recurring deposits.
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Rupesh Jain

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Rupesh Jain (Expert)
22 April 2014 term deposit not cover recurring deposit.
hence tds on recurring deposit interest not deductible.
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