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
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- Can we choose not to report losses in ITR3 if they cannot be carried forward?
- TDS AND ITR ISSUE
- GST Rate for Catering Services
- Taxability of Partnership firm for FY 2025-26
- RATE AND HSN CODE
- Carriage Road Act, 2007 read with Carriage by Road Rules, 2011
- Cash balance limit and property purchases limit
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
