Tds deduction on interest on lease premium
This query is : Resolved
21 May 2014
Friend Please help me to resolve this issue:
We are a Co-operative society which has acquired leasehold land from HSIDC & UPSIDC for setting up dairy plant at different location. We have paid part of lease premium to the respective state corporations & they are charging interest on the remaining amount of the lease premium.So whether we have any liability to deduct TDS u/s 194-A or not ?
As these are state government owned corporation.
There is general exemption u/s 196 but these corporations are not covered there !
We are a Co-operative society which has acquired leasehold land from HSIDC & UPSIDC for setting up dairy plant at different location. We have paid part of lease premium to the respective state corporations & they are charging interest on the remaining amount of the lease premium.So whether we have any liability to deduct TDS u/s 194-A or not ?
As these are state government owned corporation.
There is general exemption u/s 196 but these corporations are not covered there !
21 May 2014
you have to deduct the tds on intt. but it will conver u/s 196 due to this is state govt owned institution.
pls wait for another expert view.
pls wait for another expert view.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- CLOSING STOCK QUERY
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- ITC BENEFIT ON BROKRAGE PAID
- TDS refund Indemnity Bond
- DUE DATE FOR ITR FILING
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- GST ISD Query on various AMCs
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
