If a Co-operative society is having Fixed Deposit of 40 Lakhs (Repairs Fund) and earning interest of sum around 1.5 lakhs as Interest Income.
Banks have deducted TDS.
How to avoid this TDS for Society.
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Interst on FD
Replies (2)
You may probably apply for a nil/lower deduction certificate as per section 197 of IT Act.
https://www.charteredclub.com/income-tax-form-13-for-applying-for-nillower-deduction-of-tds/
Thanks Poornima Madhavaji... 🙏
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