WHETHER A BANK CAN DEDUCT TDS WHEN INTEREST ON FIXED DEPOSIT AMOUNTS TO RS2500/- QUATERLY OR NOT.
CA SONIYA AGARWAL (self practice) (3005 Points)
29 November 2013WHETHER A BANK CAN DEDUCT TDS WHEN INTEREST ON FIXED DEPOSIT AMOUNTS TO RS2500/- QUATERLY OR NOT.
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
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
