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HOW TO ENSURE NO TAX DEDUCTION?
Posted by
mukesh patel in
Save Tax - The Smart Way, Tax Clues - Ahmedabad Mirror on
Jan 31st, 2011 |
no responses
All you wanted to know about
TDS on Interest in Simple FAQs
Section 194A of the Income-tax Act provides for tax deduction at source (TDS) at 10% out of interest payments exceeding Rs.10,000 in a financial year. However, with a view to grant relief to persons who are not under liability to pay any income-tax, special provisions have been made under Section 197A, which permit the benefit of no tax deduction even on interest payments exceeding Rs.10,000. Answers to many frequently asked questions (FAQs) in relation to this special relief will prove to be both interesting and useful.
