04 December 2010
Hii..., i think TDS is deducted on such interest, if such interest amount exceeds 10,000.... Just confirm if the amount is 5,000 now.... Coz, i remember, there was some change in 2007.... So either its 10000 or 5000.., if amount exceeds such limit, TDS is deductible....
06 December 2010
U/s 194A, TDS is deductible only in case of time deposits. SB a/c is not term deposit, hence TDS is not applicable. By the way i am interested to know which bank is paying int on current accounts
CAclubindia
