Poonawalla fincorp
Poonawalla fincorp

Tds deduction by banks

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(Querist)
04 August 2012 whether tds deduction by banks are on accrual basis or on payment basis/due date basis? say if an fd is earning interest above 10000 in two years but less than 10000 on yaerly basis, then is it subject to tds?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
04 August 2012 Banks deduct TDS on accrual basis. The limit of Rs 10000/- applies for the interest accrued in a single financial year.
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SANYAM ARORA

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SANYAM ARORA (Expert)
04 August 2012 It is deducted on Accrual and On Yearly Basis
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