Menu
TDS deduction for FD
If a section 12A registered trust holds a fixed deposit, then it is not mandatory for the bank to deduct TDS even though the interest income is greater than 10,000 rupees?
Replies (1)
bank will deduct tds because not all the income of charitable trust are exempt
charitable trust reg under 12aa are alowed adhoc deductution under sec 11 of gross receipt nd 85% if applied
so tax calculation shall arise if it is not applied for a trust therfore tds shoud be deducted.
charitable trust reg under 12aa are alowed adhoc deductution under sec 11 of gross receipt nd 85% if applied
so tax calculation shall arise if it is not applied for a trust therfore tds shoud be deducted.
Recent Topics :
- Clarifications for intra day transactions
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
- 70:30 GST rule for solar EPC: partial scope (struc
- TDS on Redevelopers hardship allowance received no
- Who will take FSSAI AND TRADE LICENSE: owner or te
- E Way Bill in respect of Without Bringing Material
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
Related Topics :
CAclubindia
