10 October 2019
As per Circular No. 18/2017 Payment made to “local authority” is exempt for deducting of TDS. They are not required to apply for exemption certificate. So while filing returns if the interest paid to “local authority” is more than Rs 40000/- & if TDS not deducted by bank then what Reason for Non-deduction/ to be mentioned to avoid TDS demand
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