Is TDS deductible on FD made by state govt. school?? and also state govt. schools falls under which head of "person" as per it act??
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Tds on fixed deposit made by state govt. school
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TDS on FD made with any bank/financial institution by anyone irrespective type of "person" is deductible only if interest on such deposits exceeds Rs. 10000/-. during the year.
State govt. schools are usually treated as 'Local Authorities' as defined in the terminology of 'person' as per income tax.
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