Dear Experts
Is TDS required to be made by the payer where the income is exempt under section 10 of the Income Ta Act in the hands of the recipient ?
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Query on TDS on exempt income
Replies (1)
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No TDS required on payments made to entities like the Reserve Bank of India, or certain agricultural boards and funds whose income is completely exempt under Section 10 and are not required to file returns.
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TDS required if the exemption is conditional or if the entity is required to file returns, even if some part of their income is exempt (for instance, charitable trusts under Section 11).
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