If a person is getting Rs. 6000 interest half yearly on Fixed Deposit of a bank and it matures, will TDS be deducted.
Naresh Khemka
(Article Associate at a CA firm)
(98 Points)
Replied 13 April 2013
Yes it will be deducted...on full amount of intrest... @ 10%.....
parag_0302
(Asstt. Commercial Officer)
(124 Points)
Replied 15 April 2013
No TDS is not deducted because cut off limit of TDS u/s- 194A (INTEREST OTHER THAN ON SECURITIES (BY BANK)) for "Interest received from bank is rs. 10,000/- in a year " (for F.Y.-2013-14 on wards) and in present case the int. is so recd. on F.D. from bank & it matures in 6 months and int. recd is only rs 6,000/- which is bellow the cut-off limit.Therefor TDS is not deducted
Prasad Prabhakarrao Neware
(Accounts Officer)
(34 Points)
Replied 15 April 2013
PMA Nooruddin
(M.Com, Finance Manager)
(422 Points)
Replied 15 April 2013
No TDS
-194A Applies
- Cut Off is Rs.10000-
Naresh Khemka
(Article Associate at a CA firm)
(98 Points)
Replied 16 April 2013
yes.. no tds..
i missed the "it matures in 6 mnths" part 
..
Hardeep
(Auditor/Accountant)
(49 Points)
Replied 19 April 2013
Daljeet Chouhan
(Accountant)
(51 Points)
Replied 20 April 2013
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