Is TDS deducted on my savings account interest?

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• How is the interest on my savings account taxed?

  Interest on savings account is taxable as per Income tax slab rates applicable to the investor. However, under section 80TTA, interest up to ₹10000 earned from all savings bank account is exempt from tax. This is also applicable to savings bank ...

• TDS

  TDS means any tax is deducted on your income/ receipts. You can find these details in Form 26AS. By uploading Form 26AS these data will be automatically filled up. TAN(Tax deduction and Collection account number)= You will get this at the form 16 or ...

• What if my interest from savings account exceeds ₹10,000?

  If the interest earned from these sources exceeds Rs.10000, then the extra amount will be taxable. For example: If Sunil earns Rs.7000 from his saving accounts, he does not need to pay tax on it, as it is less than ₹10,000. But if he earned Rs.12,000 ...

• Interest

  Any interest income received from saving bank account, FD/RD, income tax refund or any other mode. You can avail the benefit of Rs 10,000 U/S 80TTA from saving bank interest if age is below 60. If you are a senior citizen u can avail the benefit of ...

• Which section of the I-T Act deals with TDS on interest income?

  Section 194A deals with a deduction of TDS on interest other than ‘interest on securities’. This could include Fixed Deposits & Loans and Advances other than banks. This TDS is deducted for resident individuals only.