Tds on interest
This query is : Resolved
ANKITA JAIN
(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
What will happen if interest is paid in excess of rs. 200000
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.
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.
in other cases tds will deducted by the society.
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