05 October 2011
i want to ask a question related to TDS provision whether cooperative society carried banking business required to deduct tax on fixed deposit of their members
05 October 2011
Thank you sir for your valuable advise. i was confused because i thought that if cooperative society pay interest to their members than TDS provision will not apply. but u are right it was only for recurring deposit and saving account int. thank you ones again sir
Querist :
Anonymous
Querist :
Anonymous
(Querist)
05 October 2011
but sir as per sec 194A any interest paid by cooperative credit society and cooperative banks to its member thereof are not liable for TDS
05 October 2011
Section 194(3)(v) provides that TDS is not required to be deducted on interest paid by a co-operative society to its members or other co-operative socities.
16 April 2013
No TDS is required on interest paid to members by any society. [sec.194A(3)(v)] No Tds for interest paid to any depositor,member or non-member by PACS,PCARD banks and Primary credit societies. Please refer the cases of Moolamattam employees co-operative society and Thodupuzha urban co-operative bank.
16 April 2013
No TDS is required on interest paid to members by any society. [sec.194A(3)(v)] No Tds for interest paid to any depositor,member or non-member by PACS,PCARD banks and Primary credit societies. Please refer the cases of Moolamattam employees co-operative society and Thodupuzha urban co-operative bank.
16 April 2013
No TDS is required on interest paid to members by any society. [sec.194A(3)(v)] No Tds for interest paid to any depositor,member or non-member by PACS,PCARD banks and Primary credit societies. Please refer the cases of Moolamattam employees co-operative society and Thodupuzha urban co-operative bank.