Whether tds is liable or not ?
This query is : Resolved
14 September 2016
Co - credit society invest amount in public charitable trust (running school and college ),co-op credit soc. shows the amount as 'Investment 'in its Bal.sheet.
Trust shows same amount as 'Deposit from public '
Whether Trust is liable to deduct tax at sources on amt . paid as Interest.
Trust is registered u/s 11 AA. & having 80 G exemption?
14 September 2016
Yes trust is liable to deduct tax at source on interest paid.
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