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.
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