Sivaguru SM
(Tax Consultant)
(235 Points)
Replied 10 August 2011
In your case, TDS not applicable for Nationalised banks. TDS applicable for only NBFCs
Mihir
(Wealth Manager)
(5293 Points)
Replied 10 August 2011
u/s 194A(3) the payer is not liable to deduct tax at source from any banking company, financial corporation under central/state govt, LIC, UTI, cooperative society in business of banking, cooperative society in business of insurance etc.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
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