Section 194A notification

No Section 194A TDS on Interest payment to Scheduled Tribe by Scheduled Bank

Notification No. 110/2021-Income Tax [S.O. 3815(E)] | Press Release ID: 1755937 17/09/2021

CBDT notifies that no Section 194A TDS will be deducted by ‘Scheduled Bank on payment of interest, other than interest on securities to Scheduled Tribe residing in any specified area, and the payment as referred above is accruing or arising to the receiver as referred to in section 10(26) if the payment made or aggregate […]...

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TDS on interest on Post Office Saving Schemes reduced

S.B. Order 23/2020 26/06/2020

In order to provide more funds at the disposal of the taxpayers for dealing with the economic situation arising out of COVID-19 pandemic. the rates of Tax Deduction at Source (TDS) for the following non-salaried specified payments made to residents has been reduced by 25% for the period from 14th May, 2020 to 31st March, 2021....

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No TDS on Interest to Senior Citizen if not exceeds Rs. Fifty Thousand

Notification No. 06/2018-DGIT 06/12/2018

Income-tax Act provides that no tax deduction at source under section 194A shall be made in the case of Senior Citizens where the amount of such income or, the aggregate of the amounts of such income credited or paid during the financial year does not exceed fifty thousand rupees....

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TDS U/s. 194A of the Act on interest on fixed deposit made on direction of Courts-regd

Circular No. 23/2015-Income Tax 28/12/2015

Circular No. 23/2015 Section 194A of Income Tax Act, 1961 stipulates deductions of tax at source (TDS) on interest other than interest on securities if the aggregate of amount of such interest credited or paid to the account of the payee during the financial year exceeds the specified amount ....

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CBDT issued clarification on explanation to section 194A

Circular No. 3/2010-Income Tax 02/03/2010

Circular No. 3/2010-Income Tax CBDT clarifies that Explanation to 194A is not meant to apply in cases of banks where credit is made to provisioning account on daily/monthly basis for the purposes of macro monitoring only by the use of CBS software...

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