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TDS deduction for Savings bank account

Harshit Acharya (404 Points)

16 July 2020

Is Tds only deducted on fixed deposit interest but not on savings bank account interest.

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Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 16 July 2020

Yes, No TDS on saving bank interest. On FD interest TDS deducted if interest amount exceed 40,000/50,000(for senior citizens).

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KRISSHNAN KP (4215 Points)
Replied 16 July 2020

Yes no tds SB interest

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Vijayprakash P (1313 Points)
Replied 16 July 2020

Bank nener made tds from the interest of our sb account. But the taxpayer must include the interest of SB account which exceeded Rs. 10000 annually in his return.

Shivam RC (Student) (23683 Points)
Replied 17 July 2020

TDS is not Deducted on Interest from Savings Bank Account.

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Santosh jaiswal (281 Points)
Replied 17 July 2020

No tds on saving account

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