Student
2282 Points
Joined October 2017
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
- Banking company or any bank or a banking institution
- Co-operative society engaged in the business of banking
- Post office (on deposit under scheme framed and notified by Central Government).
- 5,000 in any other case