TDS on interest earned in savings bank a/c or FD a/c
This query is : Resolved
14 March 2009
What is the amount of interest earned in savings A/c or Fixed Deposit A/c in execess of which TDS is deducted.
14 March 2009
Rs. 5000
14 March 2009
in case of banking company or co-operative society engaged in banking business and interest is paid on time deposit or post office where interest is paid on specific notified deposits than TDS is deductible when the aggregate amount of interest credit in a year exceeds rs.10000
and where the payer is any other person than amount is rs. 5000.
refer section 194A
and where the payer is any other person than amount is rs. 5000.
refer section 194A
14 March 2009
Devanshi is right.
15 March 2009
I HAVE MY OWN DOUBT IF TDS IS DEDUCTED ON INTEREST CREDITED ON SAVING BANK ACCOUNT. FRIENDS PLS UPDATE ME ON THIS. ELSE THE VIEW GIVEN BY MS DEVANSHI IS RIGHT
15 March 2009
No Ambani Ji, TDS is not deducted on Savings interest.
15 March 2009
savings interest is not covered.
16 March 2009
THNX TARUNJI & DEVANSHI, LOOKING AT THE QUESTION MENTIONING S/B A/C & REPLY GIVEN BY MITHUN WHICH WAS , I WAS FORCED TO RE ASSURE MY SELF.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Sale of Equity shares for Purchase of Residential Property
- ECO SUPPLY REPORTIONG IN GSTR-1
- TDS PROCEDURE ON SALE OF IMMOVABLE PROPERTY BY NRI
- Payment to foreign customer
- Non issue of e way bill
- Subscription paid to foreign customer
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
