section 194J

hi pinky there is no exemption to institutes like iit i guess tds has to be deducted

Dear Pinkey,

Section 196 specifies that the following are exempt from TAX

1. payment to Central government

2. payment to RBI

3. to corporation established by or under central act

4. payment to mutual fund as specified under clause 23 D to section 10.

for all other payments one has to deduct tax unless other wise specifically provided or tax exemption certificate has been obtained under section 197.

Regards,

S.Anantharaghavan

           Thanks Mr. Anantharaghavan.
           

           Regards

           Pinkey