tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 December 2010
why tds is not deducted on interest on savings and current account ??
04 December 2010
Hii..., i think TDS is deducted on such interest, if such interest amount exceeds 10,000.... Just confirm if the amount is 5,000 now.... Coz, i remember, there was some change in 2007.... So either its 10000 or 5000.., if amount exceeds such limit, TDS is deductible....
05 December 2010
interest on Saving bank and current account will cover under the head income other than security.
If the interest amount exceeds Rs 10,000/- then TDS will be attracted on your interest.
If the interest amount exceeds Rs 10,000/- then TDS will be attracted on your interest.
06 December 2010
U/s 194A, TDS is deductible only in case of time deposits. SB a/c is not term deposit, hence TDS is not applicable. By the way i am interested to know which bank is paying int on current accounts
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