Sec. 269 ss
Santosh Nalawade (Practice) (355 Points)
04 June 2016
dear all, does sec. 269 SS applicable on deposits accepted by banks from saving / current / fixed deposit account holders.
1 Replies
CA Mohit Khattar
(Practicing Chartered Accountant)
(50 Points)
Replied 04 June 2016
269SS shall not be applicable on deposits accepted by banks from saving / current / fixed deposit account holders as it is covered under first proviso to sec 269SS which states as under:
The provisions of this section shall not apply to any loan or deposit taken or accepted from or any loan or deposit taken or accepted by,
(i) Government
(ii) Any banking company, post office saving bank or cooperative bank
(iii) Any corporation established by a central, state or provincial act.
(iv) Any government company
Recent Topics
- Reporting in gstr9 of ITC of Previous year reverse
- Tax on Reimbursement of House Rent
- MAHARASHTRA CHARITY COMMISSIONER WEBSITE
- Explanation 3 to section 11(1) read with section 4
- Ammendment in Partnership On Death of Partner and
- TDS Provisions applicability Tax Audit Individual
- NAME CHANGE OF HUF
- Advisory for Reporting TDS Deducted by scrap Deale
- Section 194 J Technical Service/Professional Servi
- Solving of Export Related Problems
Related Threads
CAclubindia
