Tds on saving bank interest for charitable trust
This query is : Resolved
CMA SHANTILAL MENARIYA
(Querist)
27 April 2019
I am working in a charitable trust. Trust account is credited amount 3 lakhs as an Interest in saving bank account without deducting any TDS there upon. Is it good practice by bank. Can bank credit money without deducting TDS on saving bank interest.
CA R SEETHARAMAN
(Expert)
27 April 2019
No TDS applicable on savings bank account interest.
CMA SHANTILAL MENARIYA
(Querist)
01 May 2019
then what can we interpret section 194A for TDS on interest other than section 193
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