Tds related

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 September 2013 if the person have GTI of 20000,ONLY int incme from bank rs 20000,IS BANK DEDUCT TDS AND THEN WILL GIVE THE REMAINING INTT ON BANK ACCOUNT,SO IN THIS EVENT WHATS THE USE OF 26AS,AND HOW THE CLIENT CAN CHECK WHEATHER BANK DEPOSITED THEIR TDS OR NOT TO AUTHORITIES.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

07 September 2013 Interest will be credited in your deposit account with the particular bank after deduction of TDS. Form 26AS only you can check the deposit of tds in your PAN

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

07 September 2013 I WANT TO KNOW SIR ,FULL AMT OF INTREST WILL BE CREDITED TO CLIENT BANK A/C AS RS 20000 OR AFTER DEDUCTING TDS NET AMT WILL BE CREDITED AND WHATS THE LIMIT AFTER WHICH BANK DEDUCT THE TDS

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

07 September 2013 interest will be credited after deducting the tds net amount in the bank account

interest payment will attract TDS u/s.194A and threshold limit under this section is Rs.10000/- so incase your interest payment exceeds then total interest will attract TDS @ 10%

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now