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 Topic
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
Related Topics
CAclubindia
