Tds 194a

This query is : Resolved 

10 November 2011 A cooperative Bank has invested certain amount in Fixed Deposits with Nationalised bank.whether Interest paid by the Bank is liable for TDS U/S 194A ?

11 November 2011

By virtue of sections 194A(3) and 197(1c), any interest is credited or paid to any banking company or co-operative bank is not liable for TDS Dedcution

14 November 2011 What will be the position if the RBI has cancelled the License of teh bank and started the Liquidation procedure ?




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