Tds deduction by banks
This query is : Resolved
04 August 2012
whether tds deduction by banks are on accrual basis or on payment basis/due date basis? say if an fd is earning interest above 10000 in two years but less than 10000 on yaerly basis, then is it subject to tds?
CA PARAS BAFNA
(Expert)
04 August 2012
Banks deduct TDS on accrual basis. The limit of Rs 10000/- applies for the interest accrued in a single financial year.
SANYAM ARORA
(Expert)
04 August 2012
It is deducted on Accrual and On Yearly Basis
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