The 60-second version
Section 193 requires 10% TDS on interest payable to residents on deposits and bonds not covered by other TDS sections — bank deducts and issues Form 16A.
193 covers non-security interest — banks deduct at source on FD coupons
Section 193 applies 10% TDS on interest paid to residents on instruments not covered by Section 194A or other specific sections — verify bank TDS certificate.
Returning NRIs opening resident FD after redesignation should file Form 15G/15H if total income below basic exemption.
Senior lane: Form 15G/15H guide for nil TDS when income below exemption.
Interest TDS matrix
| Section | Rate | Payer |
|---|---|---|
| 193 | 10% | Company/govt interest |
| 194A | 10% | Other interest |
| 15G/15H | Nil | Below limit |
| 80TTB | Deduction | Senior 60+ |
193 sequence
FD booking
PAN on account.
15G/15H
Submit at branch.
16A
Collect quarterly.
26AS
Match credits.
ITR
Declare gross interest.
Flow
193 kit
- PAN.
- Form 15G/H.
- Form 16A.
- 26AS.
- FD receipt.
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15G timing
Submit Form 15G at FD opening and each FY — missing submission triggers 193 TDS even if tax nil.
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vs 194A?
194A is general interest TDS; 193 covers specific government/company interest categories.
Form 15H?
Senior 60+ uses 15H instead of 15G.
80TTB stack?
Claim 80TTB in ITR after gross interest declaration.
NRE FD?
NRE interest exempt — 193 does not apply.
26AS mismatch?
Raise bank TDS rectification with Form 16A.
RNOR?
India FD interest is taxable for RNOR/ROR.
Your tax year is already running.
RNOR status, exit timing, and DTAA benefits all depend on decisions you make before you land. Don't guess.