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2008 (8) TMI 128 - HIGH COURT RAJASTHANLiability to deduct TDS on interest paid on TDR/STDR and on rent paid for the office building to four co-owners - interest paid by the Bank to the NRIs on deposits in Indian Currency was exempt u/s10(15)(iv)(fa) and thereby not subject to TDS u/s195 – further, when there are a number of owners of a property, the limit/ceiling of Rs.1,20,000 was applicable to each co-owner separately and thus, no tax was required to be deducted at source u/s 194I – revenue’s appeal dismissed
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