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Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

Co-operative society carrying on banking business need not to ...

Income Tax

April 18, 2016

Co-operative society carrying on banking business need not to deduct tax at source u/s 194A in respect of the interest paid to members on deposits - AT

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  1. TDS u/s 194A - interest income paid to a company carrying on a business of insurance need not deduct tax at source. - AT

  2. Assessee which is a co-operative society carrying on banking business when it pays interest income to a member both on time deposits and on deposits other than time...

  3. TDS u/s 194A - It is abundantly clear that the interest paid or accrued on the Term Deposit Accounts under Saving Bank Account of JKSRRDA was the money belonging to the...

  4. Assessee Society is not liable to deduct tax at source on account of payments made to the truck owners who are also members of the society - Sec. 194C

  5. TDS u/s 194A - a cooperative bank was not required to deduct tax from the payment of interest on time deposits of its members paid or credited before 1st June 2015 - HC

  6. Assessee-cooperative society carrying on business of banking statutorily required to place a part of its funds in approved securities, the income attributable thereto is...

  7. Benefit of exemption u/s 194A(3)(iii)(a) on interest by the CO-OPERATIVE BANK to the Primary Agricultural Credit Societies - in the case of deposits made by the...

  8. TDS to be deducted at the time of accrual of interest or prescribed interval only in case of time deposit u/s 194A by banks following CBS software

  9. TDS u/s 194H - assessee is not required to deduct tax at source under section 194H of the Act in respect of bank guarantee commission/charges paid to banks.- AT

  10. TDS u/ s 195 - Assessee Company was not liable to deduct the tax at source on the bank guarantee commission paid to a foreign bank - AT

 

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