A government unit which is created for the benefit of the farmers for selling milk on behalf of them and which has received the amount from the government for meeting expenses, which the unit has deposited with the bank for the time being. The question is that whether the governmemt unit is required to deposit TDS u/s 194A on the bank interest received by it over and above Rs. 10000/-?
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TDS u/s 194A
Replies (2)
dear sir.
if in the present case the Government unit receives the Interest from the Bank on it's deposite than liability to deduct TAX (TDS) is on the Bank making payment u/s 194 A...
if the amount of interest paid or to be paid is more than Rs.10000 than the Bank is required to deduct Tax
agree with rajesh
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