Tds deducted by bank
This query is : Resolved
10 September 2014
I have some FD & RD maintained in HDFC bank. Bank has deducted TDS of Rs. 15000 in F.Y. 2013-14. Is this TDS deducted on interest from RD also or just on interest on FD?. Also do banks deduct TDS on interest on saving bank account?
10 September 2014
TDS applicable on FD and RD Interest u/s 194A.
TDS deduction is not attracted on Savings Bank Account Interest.
Please Refer:
Circular No 617 Dated: 22/11/1991.
Sec 194A not applicable on Savings Bank Interest.
Please refer below link--
https://www.incometaxindiapr.gov.in/incometaxindiacr/contents/CBDTFiles/Circulars/CBDTLaws/HTMLFiles/sec194a_617_91.htm
See 4 (d)
TDS deduction is not attracted on Savings Bank Account Interest.
Please Refer:
Circular No 617 Dated: 22/11/1991.
Sec 194A not applicable on Savings Bank Interest.
Please refer below link--
https://www.incometaxindiapr.gov.in/incometaxindiacr/contents/CBDTFiles/Circulars/CBDTLaws/HTMLFiles/sec194a_617_91.htm
See 4 (d)
10 September 2014
TDS applicable on FD and RD Interest u/s 194A.
TDS deduction is not attracted on Savings Bank Account Interest.
Please Refer:
Circular No 617 Dated: 22/11/1991.
Sec 194A not applicable on Savings Bank Interest.
Please refer below link--
https://www.incometaxindiapr.gov.in/incometaxindiacr/contents/CBDTFiles/Circulars/CBDTLaws/HTMLFiles/sec194a_617_91.htm
See 4 (d)
TDS deduction is not attracted on Savings Bank Account Interest.
Please Refer:
Circular No 617 Dated: 22/11/1991.
Sec 194A not applicable on Savings Bank Interest.
Please refer below link--
https://www.incometaxindiapr.gov.in/incometaxindiacr/contents/CBDTFiles/Circulars/CBDTLaws/HTMLFiles/sec194a_617_91.htm
See 4 (d)
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