Income tax for grama panchayat

Unnikrishnan B (Branch Manager) (740 Points)

20 October 2014  

Sir,

    I have received a deposit from One Grama Panchayat (local self government ) how is the taxability of the interest they earn .do we have to deduct the TDS from them .Is there any exemption for them from TDS

which form should we use 15AA or 15 G for not deduting TDS from them

Thanking u