Legal analysis: the interest income obtained by individuals belongs to one of the tax items of personal income tax. Personal income tax shall be levied on the interest income of savings deposits according to the interest income obtained each time. There are many kinds of interest income earned by individuals, including debt interest income, bank deposit interest income and loan interest income. Among them, debt interest income and bank deposit interest income have clearly defined tax reduction and exemption preferential policies. Taxpayers can enjoy corresponding preferential policies according to regulations. Withholding agents shall calculate and withhold individual income tax in accordance with regulations.

Legal basis: Article 2 of the Individual Income Tax Law of People's Republic of China (PRC), individual income tax shall be paid for the following personal income: (1) income from wages and salaries; (2) Income from remuneration for labor services; (3) Income from remuneration; (4) Income from royalties; (5) Operating income; (6) Income from interest, dividends and bonuses; (7) Income from property lease; (8) Income from property transfer; (9) Accidental income. Individual residents who obtain income from items 1 to 4 of the preceding paragraph (hereinafter referred to as comprehensive income) shall calculate individual income tax according to the tax year; Non-resident individuals who obtain income from items 1 to 4 of the preceding paragraph shall calculate individual income tax on a monthly or itemized basis. Taxpayers who obtain income from items 5 to 9 of the preceding paragraph shall calculate individual income tax separately in accordance with the provisions of this law.