TDS on Interest on Loan | Complete Guide to TDS on Interest { NEW }

 

As per the Income Tax Act, 1961, TDS on Interest on Loan is applicable when the deductee has provided its Pan Number to the deductor. otherwise, if deductee not provided PAN, the deductor is TDS deducted at a higher rate as 20% of the total payment.

 

Also, As per the Income Tax Act, 1961, TDS on Interest on Loan will be  deducted list of Payment given Below :

 

Income Tax efiling to  Click Here

Income Tax Refund to  Click Here

E payment Income Tax to  Click Here

 

TDS on Interest other than  Interest on securities / Interest on Loan ( 194A)

Section Nature of Payment  15G-15H TDS Rate for Resident TDS Rate for Non Resident
194A Saving Bank Interest Yes 10% Interest (Banks) above Rs.40000 PA / Senor Citizen Above Rs. 50000 PA NA
194A Fixed Deposit Interest Yes 10% Interest (Banks) above Rs.40000 PA / Senor Citizen Above Rs. 50000 PA NA
194A Post Office Interest Yes 10% Interest (Banks) above Rs.40000 PA / Senor Citizen Above Rs. 50000 PA NA
194A
 
Other Company Interest Yes 10% Interest (Banks)above Rs.5000 PA NA

 

Quantum of deduction u/s 80 TTB  for senior citizens :

 

As per the Income Tax Act, Quantum of deduction u/s 80 TTB  for senior citizens is applicable for Rs. 50000/- per year of the total payment.

 

People also ask :

  • Is TDS deducted on  loan?

  • What is rate of TDS on interest?

  • Who is liable to deduct TDS on interest?

  • What is the percentage of TDS on interest?

  • What is the exemption limit for TDS?

  • How can I check my TDS deduction?

  • Is TDS applicable on unsecured loan?

  • How can I save TDS on FD interest?

  • What is the rule of TDS deduction?

  • How is FD interest calculated on accrued interest?

  • What is accrued interest with an example?

  • Is accrued interest a debit or credit?

  • What is the meaning of accrued interest?

  • What is the difference between interest and accrued interest?

  • Is interest paid an expense?

  • What type of account is interest earned?

 

Important Income Tax Topic in India

Income Tax Efiling Income Tax Slab Income Tax Refund
Income Tax Calculator Tax Online payment Income Tax Exemption
Income Tax Deduction Income Tax Form Income Tax Rate
Income Tax Challan Income Tax Helpline Income Tax 80d
Income Tax TDS Income Tax 80C Income Tax Toll Free No

 

TDS on Interest on Loan

TDS on  Loan

 

 

TDS on Interest on Loan Related Query :

 

 

TDS on Loan As per the Income Tax Act, 1961, TDS on Loan is applicable when the deductee has provided its Pan Number to the deductor. otherwise, if deductee not provided PAN, the deductor is TDS deducted at a higher rate as 20% of the total payment. Also, As per the Income Tax Act, 1961, TDS on Loan will be  deducted list of Payment given Below :