Frequently Asked Questions (FAQs)

1. What is the difference between Form 16A (TDS Certificate) and Interest & TDS
statement?
Form 16A is a Certificate downloaded from Centralized Processing Cell (CPC) of In-
come Tax Department Network (website) after the bank updates all details on the
NSDL's website. This Certificate is required by your CA / IT Consultant for filing your
Income tax return.
Interest & TDS statement is a statement generated by ICICI Bank containing details
of Branch, Deposit account number, Interest paid and TDS deducted (other banks
may not do this) to help you understand the Form 16A.
2. Why multiple Interest & TDS statements are attached?
If you hold deposit accounts in different Customer IDs, separate Interest & TDS state-
ment is provided for separate Customer ID.
3. Is this my Annual Certificate?
No it is a quarterly Certificate. As per income tax guidelines TDS certificate is to be is -
sued on quarterly basis.
4. Why is the address not matching in Interest statement & Form 16A?
Interest statement is generated by the Bank, it contains the latest address as per the
Banks record.
Form 16A is generated from Centralized Processing Cell (CPC) of Income Tax Depart-
ment Network (website), it contains the address updated in income tax records pro-
vided by you.
Hence it is advisable you to update your current address with Income tax records to get cor-
rect address captured on Form 16A (TDS Certificate).

If you are an Indian Resident : As per section 194A of the Income-tax Act, TDS is not appli-
cable on interest if the total interest earned is ` 10,000 or less in the financial year.

If you are a Non Resident Indian : As per section 195 of the Income-tax Act, 1961, TDS is ap-
plicable on any amount of interest paid or credited to Non Resident. In this respect tax will
be applicable on interest paid on NRO accounts. However, interest in respect of FCNR and
NRE accounts are exempt from TDS.

Regd. Off.: ICICI Bank Limited, Landmark, Race Course Circle, Vadodara 390007, India
Amendment in TDS provisions related to payment of interest on deposits
held with Banks

As per section 194A of Income tax Act, 1961 (the Act) Bank is deducting tax on interest
paid/credited by a branch if interest paid/credited exceeds Rs. 10,000 in a financial year.

As you may be aware that the Finance Bill, 2015 has proposed certain changes effective
June 1, 2015 with respect to TDS provisions related to payment of interest on deposits held
with Banks. As per proposed changes effective June 1, 2015 the Bank will:

Deduct tax on cumulative interest paid/credited against term deposits held at all
branches of the Bank if it exceeds threshold limit of Rs. 10,000 in a financial year.
(For computing threshold of Rs. 10,000 interest paid / credited between April 1, 2015
and May 31, 2015 would be considered for deduction of tax).

Consider interest paid/credited on Recurring Deposit post June 1, 2015 to calculate

the cumulative interest on term deposits for deduction of tax and deduct tax on this
cumulative interest.

For any clarification or more information regarding this matter, please call our Customer
Care. Alternatively, you may write to us through the Email Us option at www.icicibank.-
com or visit your nearest ICICI Bank Branch.

May_letter_dbar_RLOCO_SR84298998_May21_2016

Regd. Off.: ICICI Bank Limited, Landmark, Race Course Circle, Vadodara 390007, India