Tds deduction on interest on lease premium
This query is : Resolved
CA Abhishek K. Singh
(Querist)
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 !
Rupesh Jain
(Expert)
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.
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