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If cumulative interest amount on all the deposits (including S/B a/c) exceeds Rs 10,000/- in one FY in any one branch of the bank, then TDS is deducted.
HMT
Swamy
I have not seen that being done but discuss with the bank. TDS is usually done when the interest payable is more than 5000 rupees in a year and for a savings bank account to accumulate that sort of interest, you would need a big balance indeed!
Jss
If aggregate amount of interest payable or creditable during the financial year exceeds Rs. 5000 (or Rs. 10,000 in case paid by a banking company, cooperative society engaged in banking or post office on notified deposit schemes), you must deduct TDS at 10% for resident.
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