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Tds on interest

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(Querist)
21 April 2014 Is TDS exempted on interest on F.D. under society Act ???
What will happen if interest is paid in excess of rs. 200000
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
21 April 2014 tds is charged or exempted under income tax act and not under society act. in this case, tds shall be deductible.
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Rupesh Jain

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Rupesh Jain (Expert)
22 April 2014 it exempt when a co-operative society paid interest to its members or another co-operative society.

in other cases tds will deducted by the society.
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