Scope of section 10(20) of income tax act
Karan (student) (167 Points)
20 June 2015
Is rent paid to secretariat comes under the ambit of section of 10(20) and exempt for deducting TDS?
saral kandoi
(Executive - Taxation)
(267 Points)
Replied 20 June 2015
Dear Karan,
Section 10(20) applies for exemption to Local Authority under the heads,Interest on Securities, House Property, Capital Gains and Income from Other Sources.
If secretariat comes under Local Authority, then it is exempt and TDS not to be deducted
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