TDS Query

 WHAT IS MIDC?

MIDC stands for Maharashtra Industrial Develoment Corporation.

If it is a Govt. organisation State or Central Govt. there is no need to deduct tds

if they have obtained no deduction certificate U/s 197 - no TDS is to be Deducted.

MIDC IS Established in 1962 under M.I.D.Act 1961 as the premier industrial infrastructure development 

Agency of Government of Maharashtra.

SO IN MY OPINION TDS IS NOT TO BE DEDUCTED.

REGARDS,

CA RITESH KOTHARI

no TDS is to be deducted .......

Is there any notification or section in the I. T. Act that can confirm it?