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TDS on Interest

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(Querist)
14 July 2009 My query is regarding application of TDS u/s 194A on Interest on SB. Interest if it exceeds Rs. 10000/-. Is the TDS on interest applicable only in case where a depositor has TDR and composite interest exceeds Rs. 10000/- or it is also applicable in respect of SB. int. only if it solely increases the threshold limit.
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chetan soni

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chetan soni (Expert)
14 July 2009 It is applicable on interest on deposits, but the interest amount crossed the limit of 10K then it will also includes all the interest given to that specific person in specific period lets say accounting year.

Hence it will be composite interest.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
14 July 2009 Interest u/s 194A is not to be deducted on Savings Bank A/c Interest as clarified by CBDT.
Mr.Chetan's answer needs reconsideration.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
14 July 2009 No TDS deduction on Interest on SB a/c
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taxindiaconnect

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taxindiaconnect (Expert)
16 July 2009 I Agree with Nitin
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