fd interest of sbi- 30k
fd interest of yes bank-30k
as these are different banks
will tds us 194a applies @ 10%
THANKS IN ADVANCE😊😊
5 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 01 June 2021
No TDS will not be applicable as interest from both the banks are less than 40000 rupees
Sivaramaraju G
(Learner)
(2398 Points)
Replied 02 June 2021
No, 194 A won't be applicable as limit has been increase to 40k. here 30k per bank hence no TDS.
shrawan choudhary
(132 Points)
Replied 02 June 2021
No tds will be deducted since interest received on fd from different bank and amount of interest is less than 40000 .Tds will be deducted on interest more than 40000 and 50000(senior citizens). prescribed under sec194A.
Susmita Dutta, CA , CPA
(CA )
(2141 Points)
Replied 02 June 2021
TDS U/S 194A will be applicable if the interest on the Fixed Deposit crosses a threshold specified by tax laws. Currently, this threshold is Rs 50,000 for senior citizens and Rs 40,000 for non-seniors .
Recent Topics
- Selling my 5 year old pvt ltd for free
- Top 5 Stock Advisory Firms in India – A Comp
- Software Developer Filing Requirements: Do I Need
- GST E Way Invoice
- Where to find LUT number ?
- When the Tax Portal Isn't Ready, Who Pays the Pric
- ITR Vs. TDS Timeline Gap: A Taxpayer's Dilemma
- Tyres purchased ITC clime?
- LUT Number on Invoices
- HSN Summary B2B and B2C
Related Threads
CAclubindia
