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194A tax

sundara rajan (12 Points)

21 March 2018

section 194A what type of tax.when submit tax payer.any relaxation by chance.without tax pay to govt any problem.

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5 Replies

Nikhil Kaushik (Fellow CA) (85059 Points)
Replied 21 March 2018

read this https://cleartax.in/s/section-194a-tds-on-interest-other-than-interest-on-securities

G Vijaya Kumar (Audit Assistant) (556 Points)
Replied 21 March 2018

How much you are earned & which year this will effected. Are you crossing taxable limit.

Rahul Prajapati (Student) (2282 Points)
Replied 21 March 2018

SEC 194A IS FOR TDS ON INTEREST OTHER THAN INTEREST ON SECURITIES

Section 194A deals with deduction of TDS on interest other than interest on securities like Interest on Fixed Deposits, Interest on Loans and Advances other than banks.

The Deductor shall deduct TDS if the amount of such interest paid or credited in a financial year, exceed

10,000 where the payer is
1. Banking company or any bank or a banking institution
2. Co-operative society engaged in the business of banking
3. Post office (on deposit under scheme framed and notified by Central Government).
5,000 in any other case