For ex: Mr.A has one savings bank account and one Fixed deposit account in SBI.
For FY 2018-19 bank paid interest of Rs. 5000 on savings bank account and Rs.7500 on Fixed deposit.
Does the bank is required to deduct any TDS on such amount as it exceeded 10,000
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TDS on interest paid by bank
Replies (2)
TDS DEDUCT ONLY IN INTEREST OF FD.
No, It is not liable to be deducted as threshold limit not exceeded.
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