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Tds on deposit with co op societys

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 March 2015 Sir,
I have a deposit in co op society,and also their member of.and earn interest more then 30000 p.a. please tell me whether society is liable to deduct tds on such interest or not.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
18 March 2015 Yes Society is liable to deduct TDS u/s 194A @10%. If PAN not provided then TDS will be deducted @20%.

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