hi friends ,
can u pls help me in giving what is the
TDS rate for bank interest
5 Replies
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 11 November 2008
TDS is not applicable on bank charges
Kuldeep Patel
(Articleship)
(22 Points)
Replied 11 November 2008
| Originally posted by :Shudhanshu | ||
| " | TDS is not applicable on bank charges | " |
TDS Rate on Bank Interest is as Follows:
1. For Individual/HUF = @ 10%+SC @ 10%(if applicable)+EC @ 3%
2. For Indian Companies/Firms = @ 20%+SC+EC
3. For Oversease Companies/Firm = @ 40%+SC+EC
CA CS Akashdeep Singh
(Practicing CA)
(1394 Points)
Replied 11 November 2008
| Originally posted by :Thimma Reddy | ||
| " | hi friends , can u pls help me in giving what is the TDS rate for bank interest |
" |
TDS not applicable on the payment tobanks and government dues
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 11 November 2008
Banks can deduct TDS on interest payment but no TDS deductions in case of interest payment to banks
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