When interest amount paid by a Bank is below rs 40000 and as per rule no tds is deducted whether these details will be reflected in. 26 A S even when there is no tds and whether the banker will issue Form 16 A even when there is no tds but interest paid is below rs 40000 ? Veresham
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Quick Summary
This discussion clarifies whether interest payments below the TDS threshold (Rs 40,000) are reflected in Form 26AS. While banks are obligated to report all interest paid or accrued quarterly, these specific transactions might not appear on 26AS if no TDS was deducted. An interest certificate from the bank is generally sufficient for ITR filing, rather than a Form 16A when TDS isn't applicable.