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tds

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(Querist)
10 June 2011 hi
sir my query is that if PAN no not quouted in Bank and interest of fd less than 10000/- in this case TDS is applicable or not . plz clear.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
10 June 2011 Where Interest amount is less than 10000/- banks are not required to deduct TDS and such PAN No is not required.

However, at the time of opening account according to KYC norms , PAN no of the customer is obtained by them.
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CA M. ASIF FAROOQUI

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CA M. ASIF FAROOQUI (Expert)
10 June 2011 NO IF THE AMOUNT OF INTEREST PAYABLE BY BANK IS LESS THAN RS.10000,NO TDS WILL BE DEDUCTED WHETHER PAN IS FURNISHED OR NOT.....
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