Section 197A states about non deduction of TDS in certain cases. However, may I know abut the prescribed format of declaration to be furnished?
There is an educational institution which has deposits with the bank. The Institution states that it is exempted its income under section 10(23BBA). The institution is requesting the Bank not to deduct the TDS on its interest income. However, unless we comply to the requirements of Section 197A, the bank cannot be wise in the action of non deduction of TDS.
If anyone can help in this matter.
Thank you
CAclubindia
