Tds on interest paid to co-operative credit society
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2012
Whether TDS is to be deducted on interest paid to Co-Operative credit society registered in Maharashtra under Maharashtra Co-Operative credit society Act. Society is accepting deposits from members, lending loans to members, however not participating in clearing house transactions.
31 July 2012
If the society is carrying on the business of banking, then TDS is NOT required to be deducted.
Otherwise, TDS is required to be deducted.
Otherwise, TDS is required to be deducted.
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