banner_ad

Tds rate on fd interest in banks for corporates

This query is : Resolved 
Profile Image

Profile Image

(Querist)
26 December 2012 Our Company deposited 1.30crore in the Bank of Baroda for 30 days they credited interest on our account after deducted 22.66% TDS on interest. We are confused obout TDS rates. Please help
Profile Image

CA Navin Jain

Profile Image

CA Navin Jain (Expert)
26 December 2012 TDS RATE IS 10% UNDER SECTION 194A, AND NO SURCHARGE AND EDUCATION CESS.
Profile Image

Anand

Profile Image

Anand (Expert)
26 December 2012 Your case is covered by Section 194A - Interest other than "Interest on Securities". The rate of TDS should be 10% without surcharge and cess.
However, in case the Bank does not have your PAN they will deduct 20% u/s 206AA
So intimate your PAN to the bank and request them to deduct tax at the rate of 10%
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details