Tds
This query is : Resolved
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?
21 April 2014
no. term deposits don't include recurring deposit and no tds is applicable on recurring deposits.
22 April 2014
term deposit not cover recurring deposit.
hence tds on recurring deposit interest not deductible.
hence tds on recurring deposit interest not deductible.
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