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Tds on interest on banks recurring deposits

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karnam bhaskaran

karnam bhaskaran (Querist)
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01 June 2015 Whether Banks have to deduct TDS on interest paid/accrued interest credited on Recurring Deposits from FY 2015-16? Till FY 2014-15 Banks are not deducting TDS on "Interest on Recurring Deposits A/cs"

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 June 2015 From 01-06-2015 TDS applicable on interest payment on RD.

Amol S Joglekar

Amol S Joglekar (Expert)
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01 June 2015 TDS is very well applicable on Recurring Deposits as well.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 June 2015 Earlier there is no TDS on RD.

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