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Tds 194a

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(Querist)
10 November 2011 A cooperative Bank has invested certain amount in Fixed Deposits with Nationalised bank.whether Interest paid by the Bank is liable for TDS U/S 194A ?
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CMA Nishad Patkar

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CMA Nishad Patkar (Expert)
11 November 2011

By virtue of sections 194A(3) and 197(1c), any interest is credited or paid to any banking company or co-operative bank is not liable for TDS Dedcution
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prakash r sahane

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prakash r sahane (Querist)
14 November 2011 What will be the position if the RBI has cancelled the License of teh bank and started the Liquidation procedure ?
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