Hello Friends
How much Fixed Deposite Interest limit will be attracted to TDS
Sandeep
(Manager - Finance)
(23 Points)
Replied 07 July 2011
Pls refer below relvant extract of Sec.194A of IT Act
(3) The provisions of sub-section (1) shall not apply—
79[(i) where the amount of such income or, as the case may be, the aggregate of the amounts of such income credited or paid or likely to be credited or paid during the financial year by the person referred to in sub-section (1) to the account of, or to, the payee, 80[does not exceed—
(a) ten thousand rupees, where the payer is a banking company to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution, referred to in section 51 of that Act);
(b) ten thousand rupees, where the payer is a co-operative society engaged in carrying on the business of banking;
(c) ten thousand rupees, on any deposit with post office under any scheme framed by the Central Government and notified81 by it in this behalf; and
(d) five thousand rupees in any other case]:]
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 07 July 2011
10000- FOR BANKING CO.
OTHERVISE 5000
PANKHA
(C.A Final Student)
(170 Points)
Replied 07 July 2011
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