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Q. > Please Help: TDS -INTEREST OTHER THAN INTEREST ON SECURITIES
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550 views • Question added May 25, 2016 • Income Tax • By DILIP NEEMA , CA


Is Interest paid on fixed deposits of co-operative societies and PACS (Primary Agriculture credit society) by a Co-operative bank liable for TDS U/S 194A of the Income Tax Act ?If no please give detail of sub-section.

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vikash singh gusain

31-May-2016 , 11:26:58 pm

no need to deduct tax because it is exempt u/s 194A(3)in which write down that cooperative bank are exempted in respect of payment of intt on time deposit(FD) taken from co op socitey or pacs

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