Manager- Direct Taxation
37 Points
Joined January 2009
Dear deepak,
according to section 196 no TDS be deducted on any amount paid or payable to
1. the government
2. the RBI
3. a corporation established by or under a central act which is under any law for the time being in force, is exempt from income tax on its income
4. Mutual fund specified under section 23 D of section 10
Hence no TDS to be deducted on money payable to Maharashtra state electricity development authority