Tds u/s 194a
This query is : Resolved
CA SONIYA AGARWAL
(Querist)
29 November 2013
WHETHER A BANK CAN DEDUCT TDS WHEN INTEREST ON FIXED DEPOSIT AMOUNTS TO RS2500/- QUATERLY OR NOT
CA PARAS BAFNA
(Expert)
29 November 2013
A Bank can deduct TDS as the yearly amount is likely to exceed Rs.10000 by taking into consideration the compounding of interest, maturity date and applicable interest rate.
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