TDS under section 194A

This query is : Resolved

Ritin Kharbanda (Querist)
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11 April 2011 Whether Tax is deductible on payment of interest to Municipal Corporation and Market Committee?

pls reply as soon as possible

Thanx & Regards

Hitender Gaur

Hitender Gaur (Expert)
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13 April 2011 Municipal Corporation is exemted under section 196 so there is not need to deduct TDS u/s. 194A. Market committee if a part of MC then it also covered under 196 otherwise you need to deduct the TDS for MArket Comittee. Kindly ensure the legal title of Market Comittee first.