30 November 2017
Whether TDss is required for the interest on deposits held by Co-operative societies in the Co-operative banks. If not under what sec it is not required to be deducted?
01 December 2017
TDS is not required to be deducted by Co Operative banks for payments of interest made to Cooperative society. Refer Section 194A(3)(V).
02 December 2017
Sir, as per the link specified below there is change in provision and it states that TDS required to be made by Co-operative bank on interest on time deposits>10,000/- paid by it to Co-operative Society. whether it is correct? https://www.teachoo.com/792/235/Section-194A-TDS-on-Interest-other-than-Interest-on-Securities/category/TDS-Non-Salary/
02 December 2017
yes but at the same time there is a provision that it section 194a is not applicable when co-op bank making interest payments to co-op society
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