TDS needs to be deducted on the Payment of interest other than "Interest on securities" u/s 194A

SectionNature of PaymentThreshold (Rs.)Individual & HUFOther than Individual & HUF
Invalid/ No PAN

194APayment of Interest by bank40,000 (Non-senior Citizen)
(Senior Citizen)


194APayment of Interest by others5,00010%10%20%

e-TDS Return Form: Form 26Q needs to be filed by the Payer/ Deductor for that Quarter. And TDS needs to be deposited on or before the 7th of the next month via challan no. 281. 

TDS shall be deducted at the time of:

  1. Crediting the sum to payee account or

  2. Actual payment of cash or

  3. Payment via cheque, draft or via any other source, Whichever is earlier.