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194A Savings Bank interest
is TDS on SB int applicable? if so what is the threshold limit...?
Replies (7)
Quick Summary
Savings account bank interest comes under section 80TTA of Income tax act .Up to 10000/- saving bank account interest is exempt age less than 60 years .
section 194A mentioned above is different section. it is for Fixed deposit interest .
section 194A mentioned above is different section. it is for Fixed deposit interest .
194A is regarding deduction of TDS on interest...?
Whether interest on Savings bank will also suffer TDS after a certain limit...? what is that limit...?
Whether interest on Savings bank will also suffer TDS after a certain limit...? what is that limit...?
Savings bank account interest exemption is up to 10000/- .
My question is about applicability of deduction of TDS on SB interest and not exemption..
No.Interest paid on savings account by a banking company to a resident individual is not liable for TDS.TDS u/s194A is applicable only on time deposits.
Yes, no TDS on saving bank account .
No TDS is not deducted on Saving Bank Interest, However, if there is any linked FD or Sweep FD then TDS will be deducted on the interest accrued on that sweep FD.
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