State Bank of India () online to its customers TDS Also offers the facility to know about. In which the bank customer can take advantage of E-TDS Inquiry service on the net banking platform. In which complete information of TDS levied on all the deposit accounts present in the bank can be taken.
What is TDS Inquiry
This is an online facility provided to the customers which provides information on the tax deducted on the money deposited in the deposit account in the last financial year. You can also learn about the projected tax for the current financial year.
Connected with user ID and password
SBI According to the information provided on the website of all the deposit accounts that are connected with the user ID and password of Internet Banking. You can get TDS information on it. Tax Deduction at Source i.e. TDS is applicable to income in the form of interest from deposit money in the bank. In which if the amount of income from interest is more than 10 thousand rupees in a year, 10 percent TDS is deducted.
Inquiries only for the last financial year and the current financial year
According to SBI’s official website, you can currently make e-TDS inquiries only for the last financial year and the current financial year. If you are a customer of SBI and want to get e-TDS information, it will take up to 30 minutes. It also takes some time to generate.
To broaden the TDS form
It may be mentioned that the Income Tax Department has made some changes in the TDS form a few months ago to make it more comprehensive. It has been made necessary to provide information as no income tax has been deducted. Banks will also have to provide ‘tax deduction at source’ on withdrawals of more than Rs 1 crore in the new form.