WHETHER A BANK CAN DEDUCT TDS WHEN INTEREST ON FIXED DEPOSIT AMOUNTS TO RS2500/- QUATERLY OR NOT.
2 Replies
ANKIT SHARMA
(ACCOUNTS MANAGER)
(59 Points)
Replied 29 November 2013
Yes, it can deduct but no mandatory obligation to deduct since the specified limit is 10000/- p.a. in aggregate.
CA PRIYUL SHAH
(JOB)
(901 Points)
Replied 30 November 2013
No need to deduct TDS if aggregate interest during the year is less than Rs.10000
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