Sec-194a

yes, if it exceeds the threshold limit.

No, in respect of the income credited or paid in resect of recurring deposits with a banking company to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution referred in section 51 of that act.)

I do not agree with you. TDS is deductible on recurring deposit also. Can u pls provide the relevant provision which says TDS is not deductible from RD account interest.

Exemptions from TDS (Section 194A [3])

Interest paid or notified under any scheme notified by the central government like

-          Post office time deposit account

-          Post office recurring deposit scheme

-          Post office monthly income account

-          National saving certificate

-          Kisan Vikas patra/Indira vikas patra

You mean only Post Office Recurring Deposit Scheme. I was referring to interest paid by bank.

Hai, I am unable to find the related provision for my reply in this regard. But, I gave my answer after checking with ICICI and HDFC Banks. Check the link given.

https://www.icicibank.com/Personal-Banking/account-deposit/recurring-deposits/faqs.html#rfdtds

https://www.hdfcbank.com/personal/accounts/fixed_deposits/recurring_deposits/recurring_deposits_faqs.htm#6