Tds on interest on fd accounts in two different banks
This query is : Resolved
04 August 2012
whether interest on fd of two diff banks are consifered for tds deduction?
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.
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.
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.
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.
So, if the interest exceeds in FDs of all the branches of any single bank, then TDS gets deducted.
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