https://www.taxtmi.com/circulars?id=7984 Where banks using Core Branch Banking Solution calculate and park interest on time deposits in a provisioning account for macro monitoring only, such parking does not constitute constructive credit to the depositor; therefore tax need not be deducted at source on those provisioning entries. Tax shall be deducted at source when interest is actually accrued, credited, paid, matured or encashed, or at periodic intervals as per bank or depositor practice, whenever aggregate interest in the year exceeds the statutory threshold for deduction. en-us Wed, 03 Feb 2010 00:00:00 +0530 Mon, 31 May 2010 10:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=7984 Where banks using Core Branch Banking Solution calculate and park interest on time deposits in a provisioning account for macro monitoring only, such parking does not constitute constructive credit to the depositor; therefore tax need not be deducted at source on those provisioning entries. Tax shall be deducted at source when interest is actually accrued, credited, paid, matured or encashed, or at periodic intervals as per bank or depositor practice, whenever aggregate interest in the year exceeds the statutory threshold for deduction. Circulars Income Tax Wed, 03 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/circulars?id=7984