Tds on interest on fd accounts in two different banks

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robin

robin (Querist)
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04 August 2012 whether interest on fd of two diff banks are consifered for tds deduction?

Naresh Kansala

Naresh Kansala (Expert)
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04 August 2012 the only liability of bank is to deduct TDS on FRs with their own branch even if same person have FDs in two branches of same bank in same locality.

SANYAM ARORA

SANYAM ARORA (Expert)
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04 August 2012 Agreed with the reply

Guest

Guest (Expert)

17 August 2012 tds on interest is counted branchwise and not bankwise.
total interest on term deposits (in one or more accounts) (excluding recurring deposits) in a branch of the bank is liable to tds.
At present if your interest on term deposits is > 10000/- in any one branch, tds will be deducted.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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08 October 2021 Recently all the branches have been integrated for any single bank.
So, if the interest exceeds in FDs of all the branches of any single bank, then TDS gets deducted.

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