banner_ad

Bank Fixed deposit Interest reporting in 26AS

TDS 350 views 2 replies

Hello everyone,

Earlier the Banks reported the Fixed deposit Interest credited to the customer in 26AS only when TDS was deducted on such interest.

Since A.Y 20-21, i find that banks are reporting interest details in 26AS when total interest is well below 40K and even if NO TDS has been deducted.

Can anyone clarify if there is some new regulation to report Interest in 26AS irrespective of TDS being deducted or not ?

Thanks,

Amit

 


Attached File : 832046 20200624123325 tds.jpg downloaded: 71 times
Replies (2)
This as per new Finance act 2019, said act mandate for the banks to report amount of intrest paid to account holder even if said amount is lower then the limit on which TDS to be deducted . This move has been taken to detect tax evasion in some cases . For more details you may refer section 206A of finance act 2019.

Thank you so much for the prompt response.........


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details