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Tds applicability on term deposits by charitable institution

vijay kumar moturu (no) (229 Points)

03 September 2014  

Hi friends,

A charitable institution has made a term deposit with the Nationalised bank. Is TDS is applicable on interest income earned by charitable institution ? If say under which section it is applicable and in what way charitable institution can get an exemption from TDS applicability.

 1 Replies

Gautam Sharma (CA) (68 Points)
Replied 03 September 2014

TDS is deductible under sec 194A and exemption can be claimed uder sec 197 and 197(1A)

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