Tds on interest by bank

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robin (Querist)
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15 August 2012 Whether tds for a fy is deducted from interedt recd from both savings acc balance and fdr if cumulatively exceeds rs.10000?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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16 August 2012 TDS is NOT applicable on interest on savings bank account.

It is applicable only on FD interest.

Hemant Kumar

Hemant Kumar (Expert)
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16 August 2012 TDS Deductible only on FD interest under section 194A and its thereshold limit is 10000/-.

Guest

Guest (Expert)

16 August 2012 TDS LIMIT RS 10000/- IS ONLY FOR TERM DEPOSITS i.e. FIXED DEPOSITS EXCLUDING RECURRING DEPOSITS.
THIS LIMIT OF RS 10000/- IS BRANCHWISE,
NOT BANKWISE.

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