If a person is getting Rs. 6000 interest half yearly on Fixed Deposit of a bank and it matures, will TDS be deducted.
7 Replies
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
Yes, I am fully agree with Mr. Parag.
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
The limit of 10000 is for saving interest and not for fd interest.hence tds is applicable.
Daljeet Chouhan
(Accountant)
(51 Points)
Replied 20 April 2013
Dear all,,,,,,,,,,,,,,
If you have any opening in account, kindly tell me......... i am looking for the change..plz....plz
my mail id - chouhan92 @ gmail.com
mob -9873748032
thanks & regards
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