Section 194A - TDS on interest other than "interest on securities" (as amended by Finance Act 2025)

• Applicability

Any person other than Individual & HUF who is responsible for paying any sum by way of interest other than interest on securities to a resident is required to deduct TDS, if amount paid or credited or aggregate of amount paid or credited during the Financial year exceeds :

- Rs. 50,000 where the payer is a banking company, co-operative society engaged in banking business

- Rs. 50,000 in case of interest on deposit with post office

- Rs. 10,000 in any other case.

Note: Individual & HUF is also required to deduct TDS, if last year turnover is more than Rs. 1 crore in case of business or Gross receipt is more than Rs. 50 lakhs in case of profession.